Al Moammar Information Systems Co. — Earnings Release 2020

Apr 22, 2020

Al Moammar Information Systems Co. announces its Estimated Financial Results for the Period Ending on 2020-03-31 ( Three Months )

7200 · 22/04/2020 08:31:28 · Announcement #58639 · View on Saudi Exchange

Al Moammar Information Systems Co. announces its Estimated Financial Results for the Period Ending on 2020-03-31 ( Three Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	228.03	211.22	7.958	318.23	-28.344
Gross Profit (Loss)	37.95	30.57	24.141	64.29	-40.97
Operational Profit (Loss)	21.92	18.25	20.109	41.45	-47.117
Net Profit (Loss) after Zakat and Tax	17.15	11.72	46.331	36.89	-53.51
Total Comprehensive Income	18.24	12.49	46.036	34.89	-47.721
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (after Deducting Minority Equity)	256.36	209.08	22.613
Profit (Loss) per Share	1.07	0.73
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to	Al Moammar Information Systems has yet again delivered positive results during Q1 2020, where Net Income for the period is estimated to reach SAR 17.15M.

The increase in sales based on estimated financial results is attributed to strong backlog carried forward and the continuing growth of new orders during the current reporting period.

The growth in the gross profit is attributed to the continuous improvements in operational efficiency and provision of insource and outsource servicesIncrease (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to Revenue from Contracts estimated to increase by 8% in current quarter compared to the previous quarter.

Gross profits estimated to increase by 24% in current quarter compared to the previous quarter.

Net Income estimated to increase by 46% in the current quarter compared to the previous quarter and this was achieved due to the improvement in gross margin ratio, consistent control on S&M and G&A Expenses and major saving in the finance cost in comparison to previous year's quarterBasis of the External Auditor's Opinion Unmodified opinionModification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion These estimated financial results for the period ended March 31, 2020 are prepared by the management of the Company and is under review by the external auditor.Reclassification of Comparison Items Reclassification in accounts, wherever applicable is in compliance with IAS 1 - Presentation of Financial Statements. Certain prior year amounts have been reclassified to conform with the presentation in the current year.

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