Saudi Arabia’s Al Moammar Information Systems Company (MIS) has secured a project contract worth SAR 96.36m from the Public Investment Fund (PIF). The contract requires MIS to supply and integrate audio, visual, digital signage and smart services solutions for PIF. The project will be completed in 13 months from the expected signing date of 16 May 2023.
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MIS had previously obtained two loans totaling SAR 758.83m from Al Rajhi Bank and the Saudi British Bank (SABB) in March. The company’s net profits after Zakat and tax in 2022 were SAR 95.86m, a 69.72% increase from SAR 56.48m in the previous year. Revenues rose 23.61% to SAR 789.62m in 2022 from SAR 638.82m in 2021 and the earnings per share (EPS) increased from SAR 1.88 to SAR 3.20.
