Care net profit rises 28.7% in FY2019

23/02/2020 Argaam Exclusive

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National Medical Care Co. (Care) reported a net profit after Zakat and tax of SAR 80.09 million for fiscal year (FY) 2019, a 28.7% year-on-year (YoY) increase, as compared to SAR 62.18 million in FY2018.

Financials (M)

Item	2018	2019	Change‬
Revenues	763.80	708.39	(7.3 %)
Gross Income	166.51	165.66	(0.5 %)
Operating Income	79.90	88.37	10.6 %
Net Income	62.18	80.09	28.8 %
Average Shares	44.85	44.85	-
EPS (Riyals)	1.39	1.79	28.8 %

The profit was attributed to a 7.3% decline in revenue, in addition to lower patient traffic, the company said in a bourse statement.

The medical services provider also cited lower operating costs in manpower, pharmaceuticals, maintenance, and consumables, in addition to an improvement in gross profit margins by 23.4%.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	181.69	185.52	2.1 %
Gross Income	32.02	39.27	22.6 %
Operating Income	14.93	22.88	53.3 %
Net Income	4.87	19.64	303.2 %
Average Shares	44.85	44.85	-
EPS (Riyals)	0.11	0.44	303.2 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	173.51	185.52	6.9 %
Gross Income	40.11	39.27	(2.1 %)
Operating Income	19.63	22.88	16.5 %
Net Income	16.64	19.64	18.0 %
Average Shares	44.85	44.85	-
EPS (Riyals)	0.37	0.44	18.0 %

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