AME posts 62% rise in H1 2022 profit to SAR 15.4 mln

21/08/2022 Argaam Exclusive

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AME Company for Medical Supplies posted a 62% rise in H1 2022 net profit after Zakat and tax to SAR 15.4 million, from SAR 9.5 million a year earlier.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	69.78	108.35	55.3 %
Gross Income	32.00	48.86	52.7 %
Operating Income	13.27	17.25	30.0 %
Net Income	7.50	15.38	105.1 %
Average Shares	7.00	7.00	-
EPS (Riyals)	1.07	2.20	105.1 %

The profit growth was driven by an increase of SAR 54.28 million year-on-year (YoY) in the sales of medical supplies and devices. This surge resulted from the company’s acquisition of a larger market share, thanks to its participation in local and international conferences, exertion of more efforts to advertise and market its products, as well as the appointment of new employees in the sales and marketing departments to serve customers faster.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2021	H1 2022	Change‬
Revenues	69.78	108.35	55.3 %
Gross Income	32.00	48.86	52.7 %
Operating Income	13.27	17.25	30.0 %
Net Income	7.50	15.38	105.1 %
Average Shares	7.00	7.00	-
EPS (Riyals)	1.07	2.20	105.1 %

Item	H2 2021	H1 2022	Change‬
Revenues	81.60	108.35	32.8 %
Gross Income	37.54	48.86	30.1 %
Operating Income	15.70	17.25	9.9 %
Net Income	13.72	15.38	12.0 %
Average Shares	7.00	7.00	-
EPS (Riyals)	1.96	2.20	12.0 %

Shareholders’ equity, after minority interest, rose to SAR 96.942 million as of June 30, 2022, from SAR 93.414 million in the prior-year period.

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