Mouwasat Medical Services Co. reported net profit after Zakat and tax of SAR 528 million in 2020, up 25%, from SAR 421 million in 2019.
This profit increase was driven by 10% revenue growth due to the addition of new specialized segments and efficient utilization of available resources.
The medical services provider also cited higher revenue from the medical services segment on higher occupancy rates, and the positive contribution from Khobar branch, in addition to lower financing costs.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 1,857.21 | 2,045.03 | 10.1 % |
| Gross Income | 829.27 | 960.30 | 15.8 % |
| Operating Income | 470.49 | 577.84 | 22.8 % |
| Net Income | 421.03 | 528.16 | 25.4 % |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 2.11 | 2.64 | 25.4 % |
Q4 2020 net profit rose 10% year-on-year (YoY) to SAR 143.1 million.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 505.04 | 533.60 | 5.7 % |
| Gross Income | 230.11 | 249.21 | 8.3 % |
| Operating Income | 139.67 | 150.35 | 7.6 % |
| Net Income | 130.47 | 143.30 | 9.8 % |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 0.65 | 0.72 | 9.8 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 549.06 | 533.60 | (2.8 %) |
| Gross Income | 271.52 | 249.21 | (8.2 %) |
| Operating Income | 173.32 | 150.35 | (13.3 %) |
| Net Income | 161.10 | 143.30 | (11.0 %) |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 0.81 | 0.72 | (11.0 %) |
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