Saudi "Al Muammar" increases its profits 87% in the second quarter

Al-Moammar Information Systems Company achieved a growth of 87.6% in quarterly profits to reach 24.41 million riyals during the second quarter of 2020, compared to 13.01 million riyals in the same quarter of Last year.

According to Arabiya Net, the company said in a statement to the Saudi market that the reason for the rise in profits is due to a growth in overall revenues during the second quarter, reaching 34.18%, which is attributed to that growth. In revenue mainly due to the cumulative strong balance of carry-over business and the continued growth in new orders during the reporting period that led to the increase in revenue.

The sales of providing services, maintenance and manpower services recorded a total value of 109.35 million Saudi riyals during the second quarter of the current year compared to 122.18 million Saudi riyals in the same quarter of The previous year, a slight decrease of 11%.

Software licenses sales recorded revenues of 90.21 million Saudi riyals in the second quarter of the current year compared to 68.71 million Saudi riyals from the same year the previous year, an increase of 31 %.

and device sales recorded an amount of 119.94 million Saudi riyals in the second quarter of the current year compared to 47.22 million Saudi riyals in the same quarter of the previous year, a growth rate estimated at 154 %.

As for the gross profit: The gross profit in the second quarter of the current year amounted to 48.37 million Saudi riyals compared to the same quarter of the previous year, recording a growth of 34.96 % On an annual basis. The reason, in addition to the above, is attributed to the improvement in the total profit in the productive sectors.

The total profit from sales of services, maintenance and manpower services amounted to 19.05 million riyals in the current quarter compared to 16.56 million riyals, recording an increase of 15% compared to the same period of the previous year.

The total profit from selling computer software licenses amounted to 11.09 million riyals in the current quarter compared to 13.32 million riyals, a decrease of 17% compared to the same period of the previous year. < / p>

The total profit from sales of computers amounted to 18.23 million Saudi riyals in the current quarter compared to 5.95 million riyals, recording a growth of 206% compared to the same period of the previous year.

Sales and marketing expenses amounted to 2.06 million riyals in the second quarter compared to 2.75 million riyals in the same period of the previous year, a decrease of 25%. This reduction is attributed to ...