Financial Results : Aldawaa profit falls to SAR 76.3 mln in Q1 2023

Aldawaa profit falls to SAR 76.3 mln in Q1 2023

15/05/2023 Argaam Exclusive

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Aldawaa Medical Services Co. (DMSCO) reported a net profit of SAR 76.3 million for Q1 2023, down 12.5% from SAR 87.1 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 1,294.82 1,407.59 8.7 %
Gross Income 494.18 534.98 8.3 %
Operating Income 70.71 116.00 64.0 %
Net Income 87.11 76.25 (12.5 %)
Average Shares 85.00 85.00 -
EPS (Riyals) 1.02 0.90 (12.5 %)

The company recorded an 8.7% rise year-on-year (YoY) in revenue to reach SAR 112.8 million during the first quarter due to increased sales activities, own brands, and multi-channels.

 

Gross profit rose by 8.3% or SAR 40.8 million, YoY during the first three months.

 

Sequentially, Q1 2023 net profit fell 14.8% from SAR 89.51 million, due to the usual Q4 trend, which consists of seasonality and campaigns across multi-channels to support revenue momentum activities in Q4 2022.

 

Total shareholders’ equity, no minority interest, stood at SAR 1.076 billion as of March 31, 2023, from SAR 1.071 billion a year earlier.

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