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MIS’ net profits shrink 15% in Q3

MIS’ net profits shrink 15% in Q3
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Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) registered net profits after Zakat and tax worth SAR 19.05 million in the third quarter (Q3) of 2021, down by 15% year-on-year (YoY) from SAR 22.5 million.

Revenues increased by 13% YoY to SAR 265.86 million in Q3-21 compared to SAR 234.81 million, according to the interim income statements on Monday.

Quarter-on-quarter (QoQ), the net profits in Q3-21 were 82.6% higher than SAR 10.43 million in Q2-21, while the revenues grew by 7% from SAR 247.84 million.

During the January-September 2021 period, MIS posted 28.6% YoY lower profits at SAR 45.52 million from SAR 63.84 million. Earnings per share also declined to SAR 1.82 from SAR 2.55.

Revenues decreased by 5.7% YoY to SAR 737.16 million at the end of the nine-month period this year from SAR 782.36 million.