Naba Alsaha's 2022 net profit jumps 4% to SAR 26.9 mln

Naba Alsaha Medical Services Co.’s net profit advanced 4.2% to SAR 26.9 million by the end of 2022, versus SAR 25.8 million in the year before.

The profit growth was spurred by an estimated 21% year-on-year (YoY) uptick in the number of patients. This stimulated an increase in the revenues of ancillary services, represented in laboratory, x-ray and pharmacy services, by circa 19% YoY.

Shareholders' equity, after minority interest, amounted to SAR 130.01 million as of Dec. 31, 2022, up from SAR 102.86 million a year earlier.

Naba Alsaha restated its comparative figures to conform to the current year. Accordingly, SAR 200,000 worth of property and equipment, which were completely depreciated in the past, have been amortized into intangible assets. Some long-term loans, valued at SAR 8 million, have been reclassified as repayable during the current period.

The reclassification does not impact financing activities and financials for the period ended Dec. 31, 2021, and the condensed interim financial statements for the six months period ended June 30, 2022.

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