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.
| 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 %) |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Gross Income | 42.28 | 32.40 | (23.4 %) |
| Operating Income | 22.43 | 14.99 | (33.2 %) |
| Net Income | 17.44 | 9.30 | (46.7 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.58 | 0.31 | (46.7 %) |
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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