Saudi Arabia’s Al Moammar Information Systems (MIS) recorded an significant growth of 22.6% for 2019 amounting to SAR 163.82mn as compared to 2018, where the company’s total income was amounted to SAR 133.62mn.
Khalid Al-Moammar, the chairman for MIS said, “The growth in our results for the year 2019 represents our turning point from being a closed family joint stock company, to a public joint stock company. Our internal operations have evolved significantly, following the application of corporate governance controls for public shareholding companies in the Saudi financial market. This has enhanced our projects’ business cycles to operate more efficiently and to achieve further growth.”
He added, “There is no doubt that we have benefited significantly from the growth witnessed by the Kingdom, in terms of developing its comprehensive digital infrastructure to keep pace with KSA Vision 2030. We consider that the growth in demand and expenditure within the Saudi market – which ranks second in the Middle East and Africa – will help us to achieve further growth in the coming years.”
Ziad Mortaja, CEO at Al Moammar Information Systems (MIS)Further adding to his chairman’s comments, the CEO for MIS, Ziad Mortaja said, “Within the comprehensive restructuring that we began during 2018 for our internal business cycle, we have also expanded the processes of providing consulting services and technical professionals, which was accompanied by a significant development in our technical capabilities. This, in turn, was directly reflected in our profits, as the returns of these services were high in comparison to other activities led by the company. This also strengthened our presence in the market as a consultant that provides immense added value to our customers.”
Mortaja added, “2019 witnessed a major expansion of the company in terms of increasing the national workforces operating within the company, not to mention investing in training and technical qualification for workers, as well as launching many local and regional marketing initiatives. We also had our primary participation in the GITEX Exhibition held in Dubai, where all our initiatives were crowned for great success, which contributed to achieving noteworthy growth in our returns and profits.”
MIS is currently strengthening their consulting and professional services arm, and is also working to establish a business unit specialized in digital transformation to keep pace with the technologies of AI, and the transition towards cloud computing and the IoT, and its related capabilities and modern technologies that are building towards a Digital Knowledge Economy.
