Care net profit up 40% to SAR 136.4 mln in 2021; Q4 rises 67% to SAR 36.7 mln

01/03/2022 Argaam Exclusive

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National Medical Care Co. (Care) reported a net profit after Zakat and tax of SAR 136.4 million for 2021, a 40% increase from SAR 97.3 million in the previous year.



Financials (M)

Item 2020 2021 Change‬
Revenues 808.95 845.38 4.5 %
Gross Income 223.88 246.47 10.1 %
Operating Income 114.11 156.22 36.9 %
Net Income 97.27 136.36 40.2 %
Average Shares 44.85 44.85 -
EPS (Riyals) 2.17 3.04 40.2 %

The profit rise was attributed to increased volume of business with cash and insurance segments, lower cost of sales ratio relative to revenue and lower selling and marketing expenses.

 

In Q4 2021, Care posted a 67% profit rise to SAR 36.7 million, from SAR 22 million in the same period the previous year.

 

On a sequential basis, Q4 profit rose 10.7% from SAR 33.17 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 214.60 215.59 0.5 %
Gross Income 61.73 61.98 0.4 %
Operating Income 25.36 36.65 44.5 %
Net Income 22.00 36.71 66.9 %
Average Shares 44.85 44.85 -
EPS (Riyals) 0.49 0.82 66.9 %

Shareholders’ equity, after minority interest, grew by 8.4% to SAR 1.124 billion as of Dec. 31, 2021, from SAR 1.036 billion a year earlier.

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