Al-Muammar Information Systems Company financial data showed an increase in profits for the past year by 17.8% year on year.
According to the company’s results for the Saudi market (Tadawul) today, last year’s profits reached 75.97 million riyals, compared to profits of 64.51 million riyals in 2018. >
The company said in the statement that the increase in annual profits is due to the increase in contract revenues in 2019 to reach 997.52 million riyals, compared to 886.15 million riyals in 2018, an increase of 12.6%.
The company recorded 16.65% growth in the last year of the main operations income compared to the same period in 2018, as a result of the increase in contract revenue and total profit despite the increase in expenses Sales and marketing, general and administrative expenses and provision for doubtful debts, and the increase in the provision for expected credit losses, is also attributable to the increase in some operating requirements.
