Mouwasat Medical Services Co. reported a net profit of SAR 324.3 million for the first half of 2024, up 2% compared to SAR 317.2 million in the prior-year period.
Item | 6m 2023 | 6m 2024 | Change |
---|---|---|---|
Revenues | 1,291.56 | 1,413.08 | 9.4 % |
Gross Income | 621.42 | 653.26 | 5.1 % |
Operating Income | 365.26 | 368.01 | 0.8 % |
Net Income | 317.15 | 324.28 | 2.2 % |
Average Shares | 200.00 | 200.00 | - |
EPS (Riyals) | 1.59 | 1.62 | 2.2 % |
The company also cited improved contractual terms with customers and continued performance improvement of specialized resources in the company’s hospitals. This is in addition to the continuous enhancement of operating efficiency of the available resources.
The cost of financing declined in H1 2024 due to a lower balance of loans by the amount of installments repaid during the period.
In Q2 2024, net profit rose 1.4% to SAR 152.7 million from SAR 150.5 million a year earlier, as revenues increased by 10% YoY to SAR 690 million due to a rise in the number of outpatient visits and occupancy rates in inpatient departments on the launch of the Mouwasat Center in Madinah as of January 2024.
When compared to Q1 2024, net profit saw an 11% decline from SAR 171.58 million.
Item | Q2 2023 | Q2 2024 | Change |
---|---|---|---|
Revenues | 627.34 | 690.30 | 10.0 % |
Gross Income | 293.03 | 307.43 | 4.9 % |
Operating Income | 172.27 | 176.20 | 2.3 % |
Net Income | 150.54 | 152.70 | 1.4 % |
Average Shares | 200.00 | 200.00 | - |
EPS (Riyals) | 0.75 | 0.76 | 1.4 % |
Item | Q1 2024 | Q2 2024 | Change |
---|---|---|---|
Revenues | 722.78 | 690.30 | (4.5 %) |
Gross Income | 345.83 | 307.43 | (11.1 %) |
Operating Income | 192.50 | 176.20 | (8.5 %) |
Net Income | 171.58 | 152.70 | (11.0 %) |
Average Shares | 200.00 | 200.00 | - |
EPS (Riyals) | 0.86 | 0.76 | (11.0 %) |
Total shareholders’ equity, after minority interest, reached SAR 3.25 billion as of June 30, 2024, compared with SAR 2.93 billion a year earlier.
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