Al Moammar Information Systems Co. (MIS) posted a net profit of SAR 116 million for the first half of 2024, leaping 21% from SAR 96 million in the same period last year.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 810.00 | 684.00 | (15.6 %) |
| Gross Income | 155.00 | 132.00 | (14.8 %) |
| Operating Income | 113.00 | 69.00 | (38.9 %) |
| Net Income | 96.07 | 116.00 | 20.7 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 3.20 | 3.87 | 20.7 % |
This was attributed to recording SAR 80 million earnings from the disposal of some shares in its associate company, Edarat, and the valuation of data centers units. However, revenues declined by 16% year-on-year (YoY) on lower revenues from some operations.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 372.00 | 351.00 | (5.6 %) |
| Gross Income | 79.00 | 78.00 | (1.3 %) |
| Operating Income | 59.00 | 40.00 | (32.2 %) |
| Net Income | 50.00 | 43.00 | (14.0 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 1.67 | 1.43 | (14.0 %) |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 334.00 | 351.00 | 5.1 % |
| Gross Income | 54.00 | 78.00 | 44.4 % |
| Operating Income | 30.00 | 40.00 | 33.3 % |
| Net Income | 73.09 | 43.00 | (41.2 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 2.44 | 1.43 | (41.2 %) |
In Q2 2024, MIS net profit fell 14% to SAR 43 million from SAR 50 million in Q2 2023 on a 6% YoY revenue decline, lower gross profit, as well as higher operating and financing costs.
On a quarterly basis, net income fell from SAR 73.09 million in Q1 2024.
Total shareholders' equity, no minority interest, reached SAR 413 million by the end of H1 2024, down from SAR 431 million in the prior-year period.
| Company | Estimated | Actual | Change |
|---|---|---|---|
| CENOMI RETAIL | (1.00) | 81.00 | 8,200.0 % |
| MIS | 19.43 | 43.00 | 121.3 % |
| MAADEN | 826.50 | 1,024.02 | 23.9 % |
| BINDAWOOD | 64.50 | 72.65 | 12.6 % |
| SPIMACO | 36.00 | 34.00 | (5.6 %) |
| ALARABIA | 90.43 | 47.32 | (47.7 %) |
| Company | Estimated | Actual | Change |
|---|---|---|---|
| CENOMI RETAIL | (1.00) | 81.00 | 8,200.0 % |
| MIS | 19.43 | 43.00 | 121.3 % |
| MAADEN | 826.50 | 1,024.02 | 23.9 % |
| BINDAWOOD | 64.50 | 72.65 | 12.6 % |
| TANMIAH | 23.00 | 24.00 | 4.3 % |
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