Riyadh – Mubasher: Al Moammar Information Systems (MIS) Company’s net profits surged by 90.39% during the second quarter (Q2) of 2020 to stand at SAR 24.77 million, compared with SAR 13.01 million in the corresponding quarter a year earlier.
Similarly, revenues for Q2-20 advanced by 34.18% on an annual basis to reach SAR 319.51 million, according to a stock exchange statement on Wednesday.
The company managed to achieve positive results in Q2-20 despite the current circumstances of COVID-19, underpinned by revenues from contracts and a higher gross profit of SAR 48.37 million.
Meanwhile, selling and marketing expenses shrank to SAR 2.06 million from SAR 2.75 million while financing costs plunged to SAR 2.97 million from SAR 5.02 million.
However, general and administrative expenses surged to SAR 19.44 million from SAR 13.34 million.
