MIS CEO says 60% of projects procured by government entities

Al Moammar Information Systems Co. (MIS) chief executive officer, Ziyad Mortaji, said that 60% of the projects are procured by government entities, including quasi-government firms and institutions.

He added that the company secured a number of contracts and projects in 2019 worth SAR 1 billion, according to CNBC Arabia.

Mortaji also noted that MIS recorded a positive performance in the fiscal year 2019, and focused on increasing profit margins of all projects.

On the 2020 plans, MIS CEO highlighted that the total value of ongoing projects stands at SAR 1.5 billion.

He also said that the company is keeping pace with the growing market of information and communications technology (ICT) in Saudi Arabia, in line with Vision 2030 and National Transformation Program.

MIS reported a net profit after Zakat and tax of SAR 75.97 million for the fiscal year 2019, an increase of 17.7% year-on-year (YoY).

Yesterday, the company secured a contract to supply an integrated and advanced system of computer and network equipment, as well as software and IT security to one of Giza Systems Co.’s projects in Saudi Arabia.

The contract value is 5% higher than MIS’ gross revenue for the fiscal year 2018.