Future Care posts SAR 13.7M profit in 2023

28/03/2024 Argaam Exclusive

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Future Care Trading Co. posted an over twofold increase in 2023 net profit to SAR 13.7 million from SAR 5.1 million a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	34.13	50.98	49.4 %
Gross Income	12.24	20.90	70.8 %
Operating Income	5.77	12.85	122.8 %
Net Income	5.13	13.66	166.5 %
Average Shares	500.00	500.00	-
EPS (Halala)	1.03	2.73	166.5 %

The higher profit was spurred by a 49.39% year-on-year (YoY) rise in revenue, while expenses increased by 34.47% compared with 2022.

The revenue growth was driven by the higher number of patients, the opening of new branches in Riyadh and Dammam, as well as improved services. The company also embarked on expansion plans.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	19.09	27.95	46.4 %
Gross Income	3.98	9.29	133.2 %
Operating Income	0.94	7.34	681.7 %
Net Income	0.36	7.77	2079.4 %
Average Shares	500.00	500.00	-
EPS (Halala)	0.07	1.55	2079.4 %

Item	H1 2023	H2 2023	Change‬
Revenues	23.04	27.95	21.3 %
Gross Income	11.61	9.29	(20.0 %)
Operating Income	5.50	7.34	33.5 %
Net Income	5.89	7.77	32.0 %
Average Shares	500.00	500.00	-
EPS (Halala)	1.18	1.55	32.0 %

Shareholders’ equity, no minority interest, reached SAR 73.64 million as of Dec. 31, 2023, up from SAR 58.47 million in the prior-year period.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2021	41.07	20.06	0.04
H2 2021	30.96	16.64	0.03
H1 2022	15.04	4.77	0.01
H2 2022	19.09	0.36	0.00
H1 2023	23.04	5.89	0.01
H2 2023	27.94	7.77	0.02

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