MIS Nine-Month Net Profit Falls 16% to 76.4M SAR
Riyadh, Saudi Arabia — Al Moammar Information Systems (MIS) posted a nine-month net profit of 76.42 million SAR, down 16.2% from 91.23 million SAR in the same period last year. Revenue nearly doubled, rising 88% to 1,861.88 million SAR. Data centre mega-projects drove the top-line surge, but higher finance costs and investment fair-value losses squeezed […] The post MIS Nine-Month Net Profit…
Al Moammar Information Systems (MIS) reported a nine-month net profit of 76.42 million SAR, a 16.2% decrease from the 91.23 million SAR earned in the same period last year. However, revenue nearly doubled, increasing 88% to 1,861.88 million SAR. The surge in revenue can be attributed to data centre mega-projects and expansion of ICT core business.
While operating profit rose 46.9% to 143.64 million SAR, the net profit fell due to higher finance costs and investment fair-value losses. Two non-operating items negatively impacted the net profit, with a 3.97 million SAR decrease in investment fair values and a 21.4 million SAR increase in finance costs directly linked to data centre project financing.
Quarterly data shows that the third quarter alone generated 951.8 million SAR in revenue, a 239% increase from Q3 2024 and a 59.9% rise from the prior quarter. While operating profit for Q3 reached 64.08 million SAR, net profit fell to 20.77 million SAR, indicating a continued trend of revenue growth outpacing profit performance.
Written by urgent.news from The Saudi Standard's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
