MIS 2021 profit drops to SAR 56.5 mln; Q4 down to SAR 11 mln

31/03/2022 Argaam Exclusive

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Al Moammar Information Systems Co. (MIS) reported a net profit after Zakat and tax of SAR 56.5 million for 2021, a drop of 34% from SAR 85.1 million a year earlier.

This profit slump was driven by a decline in gross profit, as well as an increase in selling, marketing, general and administrative expenses.

Financials (M)

Item	2020	2021	Change‬
Revenues	674.79	638.82	(5.3 %)
Gross Income	173.23	166.72	(3.8 %)
Operating Income	98.30	77.26	(21.4 %)
Net Income	81.28	56.48	(30.5 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	2.71	1.88	(30.5 %)

In Q4 2021, net profit after Zakat and tax dipped 48% year-on-year (YoY) to SAR 11 million.

On a sequential basis, Q4 2021 net profit fell by 42.5% from SAR 19 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Gross Income	42.28	57.28	35.5 %
Operating Income	22.43	23.70	5.7 %
Net Income	17.44	18.83	7.9 %
Average Shares	30.00	30.00	-
EPS (Riyals)	0.58	0.63	7.9 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	171.97	175.26	1.9 %
Gross Income	42.19	57.28	35.8 %
Operating Income	20.59	23.70	15.1 %
Net Income	14.83	18.83	26.9 %
Average Shares	30.00	30.00	-
EPS (Riyals)	0.49	0.63	26.9 %

Shareholders equity, after minority interest, stood at SAR 333.9 million in 2021, up from SAR 324.7 million a year earlier.

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