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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

MIS net profit $7.1m in 9M 2023

The lower profit was attributed to an increase in impairment loss on contract assets and trade receivables during the quarter. (MIS)
By Hilal Mir
November 10, 2023 4:22 pm
  • The lower profit was attributed to an increase in impairment loss on contract assets and trade receivables during the quarter, Argaam reported.
  • In Q3 2023, the company swung to a net loss of SAR 69.4 million against a net profit of SAR 25 million in Q3 2022.

Riyadh, Saudi Arabia — Al Moammar Information Systems Co. (MIS) recorded a net profit of SAR 26.7 million ($7.1 million) in the first nine months of 2023, down from SAR 46.5 million ($12.39 million) in the prior-year period.

The lower profit was attributed to an increase in impairment loss on contract assets and trade receivables during the quarter, Argaam reported.

In Q3 2023, the company swung to a net loss of SAR 69.4 million against a net profit of SAR 25 million in Q3 2022.

MIS turned to losses from a net profit of SAR 49.5 million in Q2 2023.

Total shareholders’ equity, no minority interest, declined to SAR 317.12 million as of Sept. 30, 2023, up from SAR 321.61 million in the prior-year period, Argaam reported.

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