Mouwasat posts 17% profit jump in FY19

08/03/2020 Argaam Exclusive

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Mouwasat Medical Services Co. reported a net profit after Zakat and tax of SAR 421 million for the fiscal year of 2019, an increase of 17% year-on-year (YoY), the company said in a bourse statement.

The profit rise was attributed to higher revenue from expanding the sub-specialty clinics, and the full utilization of the available resources.

The medical services provider also cited lower provisions for doubtful debts and decreased Zakat provisions.

Financials (M)

Item	2018	2019	Change‬
Revenues	1,677.02	1,857.21	10.7 %
Gross Income	773.50	829.27	7.2 %
Operating Income	404.06	470.49	16.4 %
Net Income	360.21	421.03	16.9 %
Average Shares	200.00	200.00	-
EPS (Riyals)	1.80	2.11	16.9 %

Net profit for Q4 2019 increased by 53% YoY to SAR 130.4 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	456.04	505.04	10.7 %
Gross Income	205.12	230.11	12.2 %
Operating Income	98.62	139.67	41.6 %
Net Income	85.43	130.47	52.7 %
Average Shares	200.00	200.00	-
EPS (Riyals)	0.43	0.65	52.7 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	443.29	505.04	13.9 %
Gross Income	193.64	230.11	18.8 %
Operating Income	104.74	139.67	33.4 %
Net Income	93.04	130.47	40.2 %
Average Shares	200.00	200.00	-
EPS (Riyals)	0.47	0.65	40.2 %

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