Future Care reports 76% slump in H1 2022 profit to SAR 4.8 mln

13/09/2022 Argaam Exclusive

Future Care Trading Co. posted a plunge of 76% in H1 2022 net profit after Zakat and tax to SAR 4.8 million, compared to SAR 20.1 million in the year-earlier period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 41.07 15.04 (63.4 %)
Gross Income 26.31 8.25 (68.6 %)
Operating Income 20.12 4.83 (76.0 %)
Net Income 20.06 4.77 (76.2 %)
Average Shares 500.00 500.00 -
EPS (Halala) 4.01 0.95 (76.2 %)

The company said that revenue dropped 63.39% year-on-year (YoY), due to a sharp decline in the number of patients. This decline was mainly attributed to the easing of COVID-19 restrictions imposed during 2021 as patients were allowed to visit hospitals instead of using home care services. Insurance companies also reduced credit limits for some categories of patients.

 

On the other hand, costs fell by 54% YoY on lower operating expenses.



Current Half Annual Comparison (M)

Compared With The
Item H1 2021 H1 2022 Change‬
Revenues 41.07 15.04 (63.4 %)
Gross Income 26.31 8.25 (68.6 %)
Operating Income 20.12 4.83 (76.0 %)
Net Income 20.06 4.77 (76.2 %)
Average Shares 500.00 500.00 -
EPS (Halala) 4.01 0.95 (76.2 %)

Shareholders equity, after minority interest, reached SAR 58.476 million as of June 30, 2022, up from SAR 37.483 million a year earlier.

 

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Share Price

Future Care Trading Co.
10.60
(0.20) (1.85 %)

Future Care Trading Co. (FUTURE CARE)

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Financial Ratios
Current
Market Cap (M Riyal) 5,300.00
Enterprise Value (EV) (M) 5,249.01
Shares Outstanding ((M)) 500.00
Book Value (BV) ( Riyal) 0.15
Par Value ( Halala) 10.00
Adjusted P/E (Last12) More than 100
Price/book 71.97
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