Financial Results : Care 9M 2020 net profit rises 25% to SAR 75.3 mln

Care 9M 2020 net profit rises 25% to SAR 75.3 mln

04/11/2020 Argaam Exclusive

View other reports

National Medical Care Co. (Care) reported a net profit after Zakat and tax of SAR 75.3 million for the first nine months of 2020, an increase of 25%, compared to SAR 60.4 million in the year-earlier period.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 522.88 594.36 13.7 %
Gross Income 126.38 162.15 28.3 %
Operating Income 65.50 88.75 35.5 %
Net Income 60.45 75.27 24.5 %
Average Shares 44.85 44.85 -
EPS (Riyals) 1.35 1.68 24.5 %

The profit increase was attributed to a higher volume of business with the Ministry of Health, cash patients and direct contracts.

 

In addition, the company reported margin improvements due to higher absorption of overheads and savings in consumables and other costs, as well as a reduction in finance charges due to repayment of interest-bearing loan facilities.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 173.51 213.31 22.9 %
Gross Income 40.11 51.06 27.3 %
Operating Income 19.63 22.70 15.6 %
Net Income 16.64 16.32 (1.9 %)
Average Shares 44.85 44.85 -
EPS (Riyals) 0.37 0.36 (1.9 %)

The Q3 2020 net profit after Zakat and tax fell 2% year-on-year (YoY) to SAR 16.3 million, as the company recorded provisions for old receivables from government entities other than GOSI and lower rental and investment income.

 

On a sequential basis, Q3 2020 net profit declined 36% on lower gross profit margin due to higher cost of sale and increased Zakat charge.

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.