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

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 %

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