Mouwasat Medical Services Co. reported a net profit after Zakat and tax of SAR 421 million for the fiscal year of 2019, an increase of 17% year-on-year (YoY), the company said in a bourse statement.
The profit rise was attributed to higher revenue from expanding the sub-specialty clinics, and the full utilization of the available resources.
The medical services provider also cited lower provisions for doubtful debts and decreased Zakat provisions.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 1,677.02 | 1,857.21 | 10.7 % |
| Gross Income | 773.50 | 829.27 | 7.2 % |
| Operating Income | 404.06 | 470.49 | 16.4 % |
| Net Income | 360.21 | 421.03 | 16.9 % |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 1.80 | 2.11 | 16.9 % |
Net profit for Q4 2019 increased by 53% YoY to SAR 130.4 million.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 456.04 | 505.04 | 10.7 % |
| Gross Income | 205.12 | 230.11 | 12.2 % |
| Operating Income | 98.62 | 139.67 | 41.6 % |
| Net Income | 85.43 | 130.47 | 52.7 % |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 0.43 | 0.65 | 52.7 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 443.29 | 505.04 | 13.9 % |
| Gross Income | 193.64 | 230.11 | 18.8 % |
| Operating Income | 104.74 | 139.67 | 33.4 % |
| Net Income | 93.04 | 130.47 | 40.2 % |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 0.47 | 0.65 | 40.2 % |
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