Future Care Trading Co. posted a plunge of 76% in H1 2022 net profit after Zakat and tax to SAR 4.8 million, compared to SAR 20.1 million in the year-earlier period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 41.07 | 15.04 | (63.4 %) |
| Gross Income | 26.31 | 8.25 | (68.6 %) |
| Operating Income | 20.12 | 4.83 | (76.0 %) |
| Net Income | 20.06 | 4.77 | (76.2 %) |
| Average Shares | 500.00 | 500.00 | - |
| EPS (Halala) | 4.01 | 0.95 | (76.2 %) |
The company said that revenue dropped 63.39% year-on-year (YoY), due to a sharp decline in the number of patients. This decline was mainly attributed to the easing of COVID-19 restrictions imposed during 2021 as patients were allowed to visit hospitals instead of using home care services. Insurance companies also reduced credit limits for some categories of patients.
On the other hand, costs fell by 54% YoY on lower operating expenses.
Shareholders equity, after minority interest, reached SAR 58.476 million as of June 30, 2022, up from SAR 37.483 million a year earlier.
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