Care’s net profit rises 21% to SAR 97.3 mln in 2020

22/03/2021 Argaam Exclusive

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National Medical Care Co. (Care) reported a net profit after Zakat and tax of SAR 97.3 million for 2020, an increase of 21%, compared to SAR 80.1 million in the year-earlier period.

Financials (M)

Item	2019	2020	Change‬
Revenues	708.39	808.95	14.2 %
Gross Income	165.66	223.88	35.1 %
Operating Income	88.37	114.11	29.1 %
Net Income	80.09	97.27	21.4 %
Average Shares	44.85	44.85	-
EPS (Riyals)	1.79	2.17	21.4 %

The higher earnings were attributed to 14.2% increase year-on-year (YoY) in net revenues, lower cost of sales, 23.4% improvement in gross profit margin and reduced general and administrative expenses.

The Q4 2020 net profit after Zakat and tax jumped 12% YoY to SAR 22 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	185.52	214.60	15.7 %
Gross Income	39.27	61.73	57.2 %
Operating Income	22.88	25.36	10.9 %
Net Income	19.64	22.00	12.0 %
Average Shares	44.85	44.85	-
EPS (Riyals)	0.44	0.49	12.0 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	213.31	214.60	0.6 %
Gross Income	51.06	61.73	20.9 %
Operating Income	22.70	25.36	11.7 %
Net Income	16.32	22.00	34.8 %
Average Shares	44.85	44.85	-
EPS (Riyals)	0.36	0.49	34.8 %

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