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

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 228.03211.227.958318.23-28.344
Gross Profit (Loss) 37.9530.5724.14164.29-40.97
Operational Profit (Loss) 21.9218.2520.10941.45-47.117
Net Profit (Loss) after Zakat and Tax 17.1511.7246.33136.89-53.51
Total Comprehensive Income 18.2412.4946.03634.89-47.721
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (after Deducting Minority Equity) 256.36209.0822.613
Profit (Loss) per Share 1.070.73
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
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 services

Increase (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 quarter

Basis of the External Auditor's Opinion Unmodified opinion
Modification, 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.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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