Financial Results : Mouwasat net profit edges up to SAR 108 mln in Q1 2020

Mouwasat net profit edges up to SAR 108 mln in Q1 2020

14/06/2020 Argaam Exclusive

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Mouwasat Medical Services Co. reported a net profit after Zakat and tax of SAR 108 million for Q1 2020, a marginal increase of 1% year-on-year (YoY), on higher revenue from the addition of specialized departments, and the full utilization of available resources.

 

The medical services provider also cited lower finance charges and Zakat expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 462.62 493.94 6.8 %
Gross Income 211.32 220.55 4.4 %
Operating Income 122.04 122.98 0.8 %
Net Income 107.22 108.03 0.8 %
Average Shares 200.00 200.00 -
Earnings Per Share before unusual items (Riyal) 0.54 0.54 0.8 %
EPS (Riyal) 0.54 0.54 0.8 %

When compared to the previous quarter, net profit dropped 17.2%, due to lower revenue, along with higher labor costs, doubtful debt provisions and Zakat expenses.

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