Care posts SAR 233.46M profit in 9M 2026; Q3 at SAR 87.02M

National Medical Care Co. (Care) reported a net profit of SAR 233.46 million for the first nine months of 2026, down from SAR 247.51 million in the year-ago period.

The decline came as the cost of revenue rose 12.1%, outpacing revenue growth amid a seasonal slowdown in Q1 2026.

Gross profit margin narrowed to 35.8% from 37% a year earlier, driven by higher staff costs and increased spending on drugs and medical consumables in line with rising patient numbers.

Operating expenses rose 17.8% to SAR 199.5 million, further weighing on profit. The increase was driven by higher general and administrative expenses associated with the expansion of the group’s activities and operations, as well as higher staff costs and consulting fees.

Finance costs also increased to SAR 16.1 million in 9M 2026 from SAR 6.9 million a year earlier, reflecting costs associated with a medical equipment leasing agreement. Zakat expenses rose to SAR 22.3 million from SAR 18.2 million over the same period.

These factors were partly offset by a 10.1% YoY increase in revenue to SAR 1.32 billion in 9M 2026, supported by a 14.6% rise in patient numbers to 814,350. Outpatient visits increased 14.5%, while inpatient admissions rose 15.9%.

Revenue also benefited from continued growth across the group’s key payer segments and higher contributions from affiliated medical facilities, particularly its Al Malaz branch, Al Rawabi, AL Salam Health Medical Hospital, Jiwar, and ReLib.

In Q3 2026, the company’s net profit rose 6% YoY to SAR 87.02 million, from SAR 82.2 million, but declined 7.4% quarter-on-quarter (QoQ) from SAR 93.97 million.

Total shareholders' equity, with no minority interest, reached SAR 1.95 billion at the end of 9M 2026, compared with SAR 1.78 billion a year earlier.

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