MIS logs 56% higher profits in Q3

The growth in profits was boosted by a rise in revenue

  
Riyadh – Mubasher: The net profits of Al Moammar Information Systems (MIS) Company grew by 56.4% year-on-year (YoY) in the third quarter (Q3) of 2020, reaching SAR 22.5 million.

The growth in profits was boosted by a rise in revenue and gross profits by 2.1% and 34.8%, respectively. Revenues for Q3-20 reached SAR 234.8 million and gross profits totalled SAR 44.63 million, according to a bourse disclosure on Thursday.

Furthermore, selling and marketing expenses as well as general and administrative expenses rose by 22.4% and 45%, respectively, while financing costs grew by 24%.

In the first nine months of the year, the profits stood at SAR 63.84 million, up by 63.1% YoY.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities