Saudi: MIS unveils $10.4mln deal with SDAIA

Edarat Communication and Information Technology Company, a subsidiary of MIS, rolled out a project award at an amount of $33.53mln

Staff Writer, Mubasher

June 26, 2024

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Riyadh – Al Moammar Information Systems Company (MIS) won a SAR 38.74 million project contract to implement the local and national integration platform with the Saudi Data & AI Authority (SDAIA).

MIS was awarded the deal on 24 June 2024 and is expected to sign the agreement on 24 July, according to a bourse filing.

Edarat Communication and Information Technology Company, a subsidiary of MIS, rolled out a project award at an amount of SAR 125.77 million.

In the three-month period that ended on 31 March 2024, MIS logged 56.94% higher net profits at SAR 73.09 million, compared to SAR 46.57 million a year earlier.

Revenues dropped by 23.76% to SAR 333.51 million in the first quarter (Q1) of 2024 from SAR 437.48 million in Q1-23, while the earnings per share (EPS) increased to SAR 2.44 from SAR 1.55.

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