Al-Modawat Specialized Medical Co.’s net profit declined 71% to SAR 3.2 million in the first half of 2024, compared to SAR 10.9 million in the prior-year period.
Item | 6m 2023 | 6m 2024 | Change |
---|---|---|---|
Revenues | 37.18 | 37.29 | 0.3 % |
Gross Income | 21.40 | 17.33 | (19.0 %) |
Operating Income | 11.52 | 3.79 | (67.1 %) |
Net Income | 10.93 | 3.16 | (71.1 %) |
Average Shares | 19.00 | 23.75 | 25.0 % |
EPS (Riyals) | 0.58 | 0.13 | (76.9 %) |
Item | H1 2023 | H1 2024 | Change |
---|---|---|---|
Revenues | 37.18 | 37.29 | 0.3 % |
Gross Income | 21.40 | 17.33 | (19.0 %) |
Operating Income | 11.52 | 3.79 | (67.1 %) |
Net Income | 10.93 | 3.16 | (71.1 %) |
Average Shares | 19.00 | 23.75 | 25.0 % |
EPS (Riyals) | 0.58 | 0.13 | (76.9 %) |
Item | H2 2023 | H1 2024 | Change |
---|---|---|---|
Revenues | 37.13 | 37.29 | 0.4 % |
Gross Income | 19.23 | 17.33 | (9.9 %) |
Operating Income | 8.65 | 3.79 | (56.2 %) |
Net Income | 7.66 | 3.16 | (58.7 %) |
Average Shares | 19.00 | 23.75 | 25.0 % |
EPS (Riyals) | 0.40 | 0.13 | (67.0 %) |
The drop was attributed to the additional expenses for listing on Nomu-Parallel Market and the higher costs dedicated for leveraging the medical services efficiency.
This was offset by an increase in sales and revenues during the first half of 2024 compared to the same period last year, a continued growth in all operational segments, and the increase in the number of hospital rooms.
Shareholders’ equity, no minority interest, rose to SAR 78.51 million as of June 30, 2024, from SAR 37.12 million a year earlier.
Historical Data |
|||
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR/Share) |
H1 2022 |
25.30 |
3.64 |
0.19 |
H2 2022 |
33.27 |
6.67 |
0.35 |
H1 2023 |
37.18 |
10.93 |
0.58 |
H2 2023 |
37.13 |
7.66 |
0.40 |
H1 2024 |
37.29 |
3.16 |
0.13 |
H1 2024 |
33.27 |
6.67 |
0.35 |
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