Financial Results : Canadian Medical Center posts 41% profit drop to SAR 5 mln in H1 2021

Canadian Medical Center posts 41% profit drop to SAR 5 mln in H1 2021

15/08/2021 Argaam Exclusive

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Canadian Medical Center reported a net profit and Zakat and tax of SAR 5 million in the first six months of 2021, down 41% from SAR 8.4 million in the same period a year ago.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 29.83 30.18 1.2 %
Gross Income 12.22 12.39 1.4 %
Operating Income 8.72 6.51 (25.4 %)
Net Income 8.40 4.96 (40.9 %)
Average Shares 77.00 77.00 -
EPS (Riyals) 0.11 0.06 (40.9 %)

The profit drop is attributed to one-off start-up costs for the new Saudi Aramco project which started operations on July 1, 2021, and listing costs in the parallel market, including costs for financial and legal advisors.



Current Half Annual Comparison (M)

Compared With The
Item H1 2020 H1 2021 Change‬
Revenues 29.83 30.18 1.2 %
Gross Income 12.22 12.39 1.4 %
Operating Income 8.72 6.51 (25.4 %)
Net Income 8.40 4.96 (40.9 %)
Average Shares 77.00 77.00 -
EPS (Riyals) 0.11 0.06 (40.9 %)

Total revenues increased 1.18% to SAR 30.1 million in H1 2021 compared to SAR 29.8 million in the same period a year ago.

 

Total shareholders' equity stood at SAR 97 million in H1 2021 compared to SAR 14.5 million in the same period a year earlier, although there are no minority rights.

 

Net income and comprehensive income amounted to SAR 4.7 million in H1 2021 compared to SAR 8.5 million in the same period a year ago.

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