Mouwasat Medical Services Co. posted a net profit after Zakat and tax of SAR 578 million for 2021, a rise of 9% compared to SAR 528 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 2,045.03 | 2,144.14 | 4.8 % |
| Gross Income | 960.30 | 995.78 | 3.7 % |
| Operating Income | 577.84 | 621.93 | 7.6 % |
| Net Income | 528.16 | 578.16 | 9.5 % |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 2.64 | 2.89 | 9.5 % |
The profit growth was driven by a 4.8% increase in revenue due to continuous improvement in the performance of new specialized departments, as well as improved contractual terms with customers and enhanced efficiency of operating the available resources.
The company also cited a decrease in selling and distribution expenses, an increase in share of profit from an associate, and low financing cost.
Q4 2021 net earnings were up 2.4% year-on-year from SAR 143.3 million to SAR 146.8 million.
Sequentially, the fourth-quarter earnings increased 2.9% from SAR 142.66 million in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 533.60 | 552.33 | 3.5 % |
| Gross Income | 249.21 | 250.62 | 0.6 % |
| Operating Income | 150.35 | 158.56 | 5.5 % |
| Net Income | 143.30 | 146.97 | 2.6 % |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 0.72 | 0.73 | 2.6 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 530.98 | 552.33 | 4.0 % |
| Gross Income | 244.40 | 250.62 | 2.5 % |
| Operating Income | 150.10 | 158.56 | 5.6 % |
| Net Income | 142.66 | 146.97 | 3.0 % |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 0.71 | 0.73 | 3.0 % |
Total shareholders’ equity, after minority interest, reached SAR 2.604 billion in 2021, up 14.26% from SAR 2.279 billion a year before.
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