Al Moammar Information Systems Co. (MIS) reported a net profit after Zakat and tax of SAR 26.5 million for the first half of 2021, a fall of 36% from SAR 41.3 million in the same period last year.
The decrease is attributed to the recognition of revenues in the subsequent periods of some purchase orders, based on the phases of project implementation and the delivery dates of the new project awards during the current quarter, which will be realized in subsequent periods.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 547.55 | 291.59 | (46.7 %) |
| Gross Income | 86.32 | 67.25 | (22.1 %) |
| Operating Income | 48.79 | 32.97 | (32.4 %) |
| Net Income | 41.34 | 22.83 | (44.8 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 1.38 | 0.76 | (44.8 %) |
In Q2 2021, net profit after Zakat and tax plunged 57% year-on-year (YoY) to SAR 10.4 million, hit by a drop in revenue and a slight change in the sales mix of products, solutions and services.
When compared to the previous quarter, net profit fell 35%.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 319.51 | 148.16 | (53.6 %) |
| Gross Income | 48.37 | 34.85 | (28.0 %) |
| Operating Income | 26.87 | 17.98 | (33.1 %) |
| Net Income | 24.41 | 13.53 | (44.6 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.81 | 0.45 | (44.6 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 143.44 | 148.16 | 3.3 % |
| Gross Income | 32.40 | 34.85 | 7.5 % |
| Operating Income | 14.99 | 17.98 | 20.0 % |
| Net Income | 9.30 | 13.53 | 45.5 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.31 | 0.45 | 45.5 % |
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