Arab News, Thursday, Aug 25, 2022 | Muharram 26, 1444
Saudi IT firm Al Moammar sees slight decline in H1 profits to $6m
Saudi Arabia: Al Moammar Information
Systems Co. reported a 6 percent drop in profits for the first half of 2022,
weighed down by poor first-quarter results.
MIS’s half-year profits reached SR21 million ($6
million), down from SAR23 million in the previous-year period, according to a
The IT firm blamed the decline on a 51 percent
fall in first-quarter profits, as well as increases in operational expenses and
adjustments to employee compensation.