RIYADH: Al Moammar Information Systems Co. reported a 6 percent decline in profit for the first half of 2022, offset by poor first-quarter results.
MIS’s half-year profit reached SR21 million ($6 million), down from SAR23 million in the previous year’s period, according to a BORSE filing.
The IT firm attributed the decline to 51 per cent decline in first-quarter profit, as well as an increase in operating expenses and adjustments in employee compensation.