Canadian Medical Center H1 2023 net profit slightly up to SAR 8 mln

13/08/2023 Argaam Exclusive

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Canadian Medical Center Co. (CMCER) posted a net profit of SAR 8 million in H1 2023, slightly up from SAR 7.9 million a year earlier on higher operating revenue.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	38.92	45.22	16.2 %
Gross Income	12.63	14.21	12.5 %
Operating Income	9.11	8.31	(8.8 %)
Net Income	7.94	8.00	0.8 %
Average Shares	77.00	77.00	-
EPS (Riyals)	0.10	0.10	0.8 %

This came despite a decrease of 8.84% in operating profit to SAR 8.31 million from SAR 9.11 million in H1 2022, mainly due to an increase of SAR 1.97 million in the allowance for doubtful debts.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬
Revenues	38.92	45.22	16.2 %
Gross Income	12.63	14.21	12.5 %
Operating Income	9.11	8.31	(8.8 %)
Net Income	7.94	8.00	0.8 %
Average Shares	77.00	77.00	-
EPS (Riyals)	0.10	0.10	0.8 %

Item	H2 2022	H1 2023	Change‬
Revenues	42.31	45.22	6.9 %
Gross Income	12.34	14.21	15.1 %
Operating Income	8.15	8.31	2.0 %
Net Income	7.72	8.00	3.7 %
Average Shares	77.00	77.00	-
EPS (Riyals)	0.10	0.10	3.7 %

Shareholders’ equity, excluding minority interest, stood at SAR 90.75 million as of June 30, 2023, compared to SAR 90.51 million a year earlier.

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