Thob Al Aseel eyes new medical supply agreements: CEO

Ahmed Al-Sultan, CEO of Thob Al Aseel

Thob Al Aseel Co. gained a unique experience in the field of medical equipment supplies, CEO Ahmed Al-Sultan told Argaam in a telephone interview, affirming that the company seeks to enter into new agreements in this field.

Commenting on Thob Al Aseel’s 2020 results, the CEO said that a decline in the fourth-quarter profit margins, when compared to the prior-year period, was related to the sale of relatively low-margin product mix, along with the launch of a new incentive package for customers.

Moreover, the majority of the supply agreements signed with National Unified Procurement Co. (NUPCO) took place in the second and third quarters of 2020.

Read: Thob Al-Aseel signs SAR 73.1 mln medical supply deal with NUPCO

For cash dividends, the board of directors, as authorized by the company’s shareholders, will set the payment date, pursuant to the applicable regulations, Al-Sultan confirmed.

Thob Al Aseel posted a net profit after Zakat and tax of SAR 82.4 million in 2020, a rise of 3%, compared to SAR 80.3 million a year earlier, Argaam reported.