National Medical Care Co. (Care) reported a net profit after Zakat and tax of SAR 66.5 million for the first half of 2021, a 13% increase from SAR 58.9 million in the same period last year.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 381.05 | 416.68 | 9.4 % |
| Gross Income | 111.08 | 121.40 | 9.3 % |
| Operating Income | 66.05 | 79.77 | 20.8 % |
| Net Income | 58.94 | 66.47 | 12.8 % |
| Average Shares | 44.85 | 44.85 | - |
| EPS (Riyals) | 1.31 | 1.48 | 12.8 % |
The profit-rise was attributed to increase in business as patient visits rose, along with lower selling and marketing expenses due to reduction in bad debt provisions.
On the other hand, the firm noted higher consumption of materials and consumables, lower other income, and an increase in Zakat charges.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 186.04 | 202.49 | 8.8 % |
| Gross Income | 58.87 | 57.77 | (1.9 %) |
| Operating Income | 29.77 | 37.59 | 26.3 % |
| Net Income | 25.78 | 30.74 | 19.2 % |
| Average Shares | 44.85 | 44.85 | - |
| EPS (Riyals) | 0.57 | 0.69 | 19.2 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 214.19 | 202.49 | (5.5 %) |
| Gross Income | 63.64 | 57.77 | (9.2 %) |
| Operating Income | 42.18 | 37.59 | (10.9 %) |
| Net Income | 35.73 | 30.74 | (14.0 %) |
| Average Shares | 44.85 | 44.85 | - |
| EPS (Riyals) | 0.80 | 0.69 | (14.0 %) |
In Q2 2021, net profit after Zakat and tax rose 19% year-on-year (YoY) to SAR 30.7 million, due to higher revenue and lower selling and marketing expenses.
On a sequential basis, Q2 net profit fell 14% from SAR 35.7 million.
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