Financial Results : ProMedEx earnings surge 11% to SAR 27.6M in 2024; H2 at SAR 15.5M

ProMedEx earnings surge 11% to SAR 27.6M in 2024; H2 at SAR 15.5M

30/03/2025 Argaam Exclusive

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Professional Medical Expertise Co. (ProMedEx) posted a net profit rise of 11% to SAR 27.6 million in 2024 from SAR 24.8 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 250.12 313.17 25.2 %
Gross Income 111.96 138.80 24.0 %
Operating Income 33.34 39.72 19.1 %
Net Income 24.84 27.65 11.3 %
Average Shares 3.50 3.50 -
Earnings Per Share before unusual items (Riyals) 7.10 7.90 11.3 %
EPS (Riyals) 7.10 7.90 11.3 %

The higher net profit was driven by expansion in the company’s business with new clients, better sales for new agencies and improved sales productivity.

 

The second-half earnings declined 0.9% to SAR 15.5 million from SAR 15.68 million in H2 2023.

 

ProMedEx, however, reported a profit jump of 28.3% from SAR 12.11 million in H1 2024.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 131.30 163.74 24.7 %
Gross Income 58.97 74.49 26.3 %
Operating Income 19.25 20.66 7.4 %
Net Income 15.68 15.54 (0.9 %)
Average Shares 3.50 3.50 -
Earnings Per Share before unusual items (Riyals) 4.48 4.44 (0.9 %)
EPS (Riyals) 4.48 4.44 (0.9 %)

Total shareholders’ equity, no minority interest, reached SAR 113.18 million as of Dec. 31, 2024, up from SAR 97.20 million a year earlier.

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