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.
Net profit for Q4 2019 increased by 53% YoY to SAR 130.4 million.
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