Mouwasat 9M 2020 net profit jumps 33% to SAR 384.9 mln

05/11/2020 Argaam Exclusive

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Mouwasat Medical Services Co. reported a net profit after Zakat and tax of SAR 384.9 million for the first nine months of 2020, a 32.5% increase, compared to SAR 290.6 million the year-earlier.

The profit increase was attributed to a 12% growth in revenue, positive contribution from Khobar branch and a decrease in the financing cost.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	1,352.17	1,511.44	11.8 %
Gross Income	599.16	711.08	18.7 %
Operating Income	330.81	427.49	29.2 %
Net Income	290.56	384.86	32.5 %
Average Shares	200.00	200.00	-
EPS (Riyals)	1.45	1.92	32.5 %

In Q3 2020, net profit after Zakat and tax rose 73% year-on-year (YoY) to SAR 161.1 million due to a 24% rise in revenue and a decline in financing costs.

On a sequential basis, Q3 2020 net profit rose 39%.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	443.29	549.06	23.9 %
Gross Income	193.64	271.52	40.2 %
Operating Income	104.74	173.32	65.5 %
Net Income	93.04	161.10	73.2 %
Average Shares	200.00	200.00	-
EPS (Riyals)	0.47	0.81	73.2 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	468.43	549.06	17.2 %
Gross Income	219.01	271.52	24.0 %
Operating Income	131.19	173.32	32.1 %
Net Income	115.73	161.10	39.2 %
Average Shares	200.00	200.00	-
EPS (Riyals)	0.58	0.81	39.2 %

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