Canadian Medical Center (CMC) reported a net profit after Zakat and tax of SAR 14.1 million in 2021, a fall of 13% from SAR 16.2 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 64.22 | 70.64 | 10.0 % |
| Gross Income | 24.03 | 25.19 | 4.9 % |
| Operating Income | 17.16 | 16.30 | (5.0 %) |
| Net Income | 16.15 | 14.06 | (12.9 %) |
| Average Shares | 77.00 | 77.00 | - |
| EPS (Riyals) | 0.21 | 0.18 | (12.9 %) |
CMC attributed the profit decline to the SAR 2.70 million start-up costs of the Johns Hopkins Aramco Healthcare (JHAH) project in the first half of 2021. The project began operations on July 1, 2021.
The company also incurred SAR 1.82 million costs to list its shares on Nomu Parallel Market.
It also cited an increase in the Zakat provision to SAR 2.47 million in 2021, compared to SAR 0.56 million in 2020, due to the company’s capital raise from SAR 2 million to SAR 77 million at the end of 2020.
CMC’s H2 2021 net profit rose by 83.38% to SAR 9.10 million, from SAR 4.96 million in the first half of 2021.
The second-half net profit climbed 20.82% year-on-year from SAR 7.53 million in H2 2020.
Shareholders' equity, after minority interest, at the end of 2021 amounted to SAR 94.5 million, compared to SAR 92.2 billion in 2020.
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