SMC profit rises 10% to SAR 32.6M in Q1 2026

Specialized Medical Co.'s (SMC) net profit rose 10% to SAR 32.6 million in Q1 2026, compared to SAR 29.6 million a year earlier.

The company attributed the profit growth to a 3.3% rise in revenue, driven by stronger outpatient activity following the continued ramp-up of 57 clinics opened in 2025.

This was further supported by higher inpatient revenues resulting from a strategic shift toward higher-margin acute care services, despite seasonal pressures from extended school and Eid Al-Fitr holidays.

Profit growth was further supported by higher occupancy rates and lower selling, marketing, and financing costs (FCs).

On a quarterly basis, however, profits declined 75.7% from SAR 133.98 million in Q4 2025.

This decline is due to a 6.4% drop in revenue to SAR 380.7 million, impacted by the same seasonal factors that weighed on patient volumes and elective procedures.

This was further pressured by a high base effect from a nonrecurring SAR 60.6 million gain recorded in the previous quarter from the sale of land related to the Al-Wadi Real Estate Fund.

Total shareholders' equity, with no minority interest, rose to SAR 1.02 billion by the end of the current period, compared to SAR 856.36 million a year earlier.

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