Al Moammar Information Systems Q2 profit drops 14% to SAR 43 mln

Al Moammar Information Systems Co. (MIS) reported a 14% decline in its second-quarter net profit, falling to SAR 43 million from SAR 50 million in the same period last year, according to preliminary financial results released on Thursday.

Operating profit for the quarter dropped 32.2% to SAR 40 million, down from SAR 59 million in Q2 2023. Total equity, excluding non-controlling interests, decreased to SAR 413 million in the first six months of 2024, compared to SAR 431 million in the same period last year, marking a 4.17% decline.

Earnings per share for the current period rose to SAR 3.86, compared to SAR 3.2 in the corresponding period last year.