MIS expects to maintain profit, revenue growth: CEO

MIS expects continued expansion in data center project execution, alongside a steady flow of new contracts in the ICT sector, along with AI-focused and conventional data centers in the second half of the year, said Al Ghamdi.

The CEO noted that the company's investments have exceeded SAR 320 million across several areas, with continued investment in developing the businesses of its subsidiaries in the fintech and healthtech sectors. These include MISPay, which offers a Buy Now, Pay Later (BNPL) product; MISConnect, which provides open banking services; and the Medical Technology Solutions Company, in line with the strategy approved by the board of directors.

The total value of contracts and projects awarded during 2026 to date amounted to approximately SAR 2 billion, spanning both the government and private sectors and covering the company's core businesses, including digital infrastructure, systems solutions, managed services, cybersecurity, and other areas.

Regarding the company’s financial results, Al Ghamdi explained that the increase in Q2 2026 profit year-on-year was driven by higher revenue from under-execution projects that progressed at a faster pace, in addition to the commencement of revenue recognition from data center projects, which were executed at a faster pace than in previous quarters. He also expects growth to continue strongly in the coming periods.

The increase in MIS revenue was driven by the execution of ongoing projects, as well as new projects awarded during H1 2026. These included systems integration and implementation projects, the development, operation, and management of digital services, as well as an acceleration in the execution of data center projects, according to the top executive.

Commenting on the recognition of expected credit loss provisions, Al Ghamdi said the company closely monitors the quality of its receivables and does not expect any collection defaults, emphasizing that collections from both the government and private sectors continue at a healthy pace.

According to data available with Argaam, MIS posted a net profit of SAR 55.7 million for H1 2026, down from SAR 66.1 million in the same period a year earlier. The second-quarter net profit stood at SAR 43.5 million.