Mouwasat Medical Services Co. reported a net profit of SAR 317.2 million for the first half of 2023, up 9% compared to SAR 291.7 million in the prior-year period.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 1,124.83 | 1,291.56 | 14.8 % |
| Gross Income | 525.87 | 620.35 | 18.0 % |
| Operating Income | 315.02 | 364.19 | 15.6 % |
| Net Income | 291.69 | 317.15 | 8.7 % |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 1.46 | 1.59 | 8.7 % |
The profit increase was due to a rise in the number of outpatient visits and occupancy rates in inpatient departments. The company also cited continued performance improvement of newly specialized resources, as well as continued enhancement of operating efficiency of the available resources, along with higher other revenues.
In Q2 2023, net profit rose 6% year-on-year (YoY) to SAR 150.5 million, driven mainly by the number of outpatient visits and occupancy rates in inpatient departments.
When compared to Q1 2023, net profit saw a 9.6% decline from SAR 166.6 million.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 557.86 | 627.34 | 12.5 % |
| Gross Income | 258.09 | 292.31 | 13.3 % |
| Operating Income | 155.34 | 171.55 | 10.4 % |
| Net Income | 141.48 | 150.54 | 6.4 % |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 0.71 | 0.75 | 6.4 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 664.22 | 627.34 | (5.6 %) |
| Gross Income | 328.05 | 292.31 | (10.9 %) |
| Operating Income | 194.20 | 171.55 | (11.7 %) |
| Net Income | 166.61 | 150.54 | (9.6 %) |
| Average Shares | 200.00 | 200.00 | - |
| EPS (Riyals) | 0.83 | 0.75 | (9.6 %) |
Total shareholders’ equity, after minority interest, reached SAR 2.93 billion as of June 30, 2023, compared with SAR 2.62 billion a year earlier.
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