Canadian Medical Center posts 41% profit drop to SAR 5 mln in H1 2021

15/08/2021 Argaam Exclusive

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Canadian Medical Center reported a net profit and Zakat and tax of SAR 5 million in the first six months of 2021, down 41% from SAR 8.4 million in the same period a year ago.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	29.83	30.18	1.2 %
Gross Income	12.22	12.39	1.4 %
Operating Income	8.72	6.51	(25.4 %)
Net Income	8.40	4.96	(40.9 %)
Average Shares	77.00	77.00	-
EPS (Riyals)	0.11	0.06	(40.9 %)

The profit drop is attributed to one-off start-up costs for the new Saudi Aramco project which started operations on July 1, 2021, and listing costs in the parallel market, including costs for financial and legal advisors.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2020	H1 2021	Change‬
Revenues	29.83	30.18	1.2 %
Gross Income	12.22	12.39	1.4 %
Operating Income	8.72	6.51	(25.4 %)
Net Income	8.40	4.96	(40.9 %)
Average Shares	77.00	77.00	-
EPS (Riyals)	0.11	0.06	(40.9 %)

Item	H2 2020	H1 2021	Change‬
Revenues	34.38	30.18	(12.2 %)
Gross Income	11.80	12.39	5.0 %
Operating Income	8.44	6.51	(22.9 %)
Net Income	7.75	4.96	(36.0 %)
Average Shares	77.00	77.00	-
EPS (Riyals)	0.10	0.06	(36.0 %)

Total revenues increased 1.18% to SAR 30.1 million in H1 2021 compared to SAR 29.8 million in the same period a year ago.

Total shareholders' equity stood at SAR 97 million in H1 2021 compared to SAR 14.5 million in the same period a year earlier, although there are no minority rights.

Net income and comprehensive income amounted to SAR 4.7 million in H1 2021 compared to SAR 8.5 million in the same period a year ago.

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