Miral H1 2024 net profit up 8% to SAR 6.5M

27/08/2024 Argaam Exclusive

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Miral Dental Clinics Co. posted SAR 6.5 million in net profit for H1 2024, a rise of 8% from SAR 6.1 million a year ago.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	30.70	33.98	10.7 %
Gross Income	11.24	12.15	8.0 %
Operating Income	6.77	8.00	18.2 %
Net Income	6.06	6.54	7.9 %
Average Shares	2.00	2.00	-
EPS (Riyals)	3.03	3.27	7.9 %

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	30.70	33.98	10.7 %
Gross Income	11.24	12.15	8.0 %
Operating Income	6.77	8.00	18.2 %
Net Income	6.06	6.54	7.9 %
Average Shares	2.00	2.00	-
EPS (Riyals)	3.03	3.27	7.9 %

Item	H2 2023	H1 2024	Change‬
Revenues	34.67	33.98	(2.0 %)
Gross Income	12.95	12.15	(6.2 %)
Operating Income	6.40	8.00	25.1 %
Net Income	5.91	6.54	10.7 %
Average Shares	2.00	2.00	-
EPS (Riyals)	2.95	3.27	10.7 %

The annual profit growth was driven by the 11% year-on-year (YoY) revenue hike to SAR 3.28 million on the expanded number of clinics in the Al-Malqa branch and the higher doctor count at the main branches of Al-Tahlia and Al-Malqa districts.

Shareholders' equity (no minority interest) climbed to SAR 49.42 million, compared to SAR 36.65 million in H1 2023.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2022	26.52	5.27	2.64
H2 2022	31.94	5.97	2.98
H1 2023	30.70	6.06	3.03
H2 2023	34.67	5.91	2.95
H1 2024	33.97	6.54	3.27

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