MIS vice chairman expects to continue growth in new projects, revenue by year-end

Al Moammar Information Systems Co. (MIS) is forecast to continue growth in new projects, sales revenues and profit by the end of the year, Ibrahim Al Moammar, the company’s Vice Chairman, told Argaam in an exclusive.

“The positive performance of MIS in the third quarter of 2020 was bolstered by client confidence,” Al Moammar said.

On the other hand, Al Moammar added that he expects Edarat Communication and Information Technology to list its shares on Tadawul in Q1 2020, after completing the required paperwork. The listing decision was approved by Edarat’s board of directors.

The move comes as Edarat expanded the number of its shareholders, and enhanced its corporate governance system and operations growth.

MIS aims to continue introducing new products with various solutions for its clients, the top official concluded.

MIS posted a net profit of SAR 63.8 million for the first nine months of 2020, a rise of 63% from a net profit of SAR 39.1 million a year earlier, Argaam reported.