Financial Results : Future Care profit drops 28% to SAR 9.9M in 2024; H2 at SAR 4.7M

Future Care profit drops 28% to SAR 9.9M in 2024; H2 at SAR 4.7M

26/03/2025 Argaam Exclusive

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Future Care Trading Co. posted a net profit of SAR 9.9 million in 2024, a 28% decline from SAR 13.7 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 50.98 53.64 5.2 %
Gross Income 26.40 23.65 (10.4 %)
Operating Income 15.61 12.07 (22.7 %)
Net Income 13.66 9.85 (27.9 %)
Average Shares 500.00 500.00 -
Earnings Per Share before unusual items (Halala) 2.73 1.97 (27.9 %)
EPS (Halala) 2.73 1.97 (27.9 %)

The profit decline was attributed to a 17.98% increase in operating expenses due to strategic investments in expanding the services across existing branches, launching new medical services, and higher operational costs.

 

On the other hand, revenue grew by 5.22% compared to last year, driven by a growth in patient acquisition and the introduction of new medical services.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 27.95 28.68 2.6 %
Gross Income 14.79 13.67 (7.6 %)
Operating Income 9.86 6.98 (29.2 %)
Net Income 7.77 4.70 (39.5 %)
Average Shares 500.00 500.00 -
Earnings Per Share before unusual items (Halala) 1.55 0.94 (39.5 %)
EPS (Halala) 1.55 0.94 (39.5 %)

In H2 2024, the company reported a net profit of SAR 4.7 million, a decline of 40% from SAR 7.77 million in H2 2023.

 

Sequentially, net profit fell 8.6% from SAR 5.15 million in H1 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 83.74 million by Dec. 31, 2024, compared to SAR 73.64 million a year ago.

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