Financial Results : Al Moammar net profit falls 5% to SAR 16 mln in Q1 2021

Al Moammar net profit falls 5% to SAR 16 mln in Q1 2021

25/04/2021 Argaam Exclusive

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Al Moammar Information Systems Co. (MIS) reported a net profit after Zakat and tax of SAR 16 million for the first quarter of 2021, a decline of 5%, compared to SAR 16.9 million in the same period last year.

 

The decrease is attributed to a decline in revenues and higher finance cost and general and administration expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 228.04 143.44 (37.1 %)
Gross Income 37.61 32.40 (13.9 %)
Operating Income 21.92 14.99 (31.6 %)
Net Income 16.93 9.30 (45.1 %)
Average Shares 30.00 30.00 -
EPS (Riyals) 0.56 0.31 (45.1 %)

When compared to Q4 2020, net profit fell 39.5%, driven by a 4.6% decline in revenue and increase in expenses.

 

Shareholders’ equity, excluding minority interest, rose by 18.4% to SAR 303.3 million in Q1 2021, from SAR 256.14 million in the same period last year.

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