ProMedEx reports 31% net profit jump to SAR 24.8M in 2023

31/03/2024 Argaam Exclusive

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Share Price

Professional Medical Expertise Co.
95.00
2.00 2.15 %

Professional Medical Expertise Co. (PRO MEDEX)

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Professional Medical Expertise Co.'s (ProMedEx) net profit grew 31% to SAR 24.8 million in 2023, compared to SAR 19 million in the previous year.



Financials (M)

Item 2022 2023 Change‬
Revenues 176.05 250.12 42.1 %
Gross Income 83.65 111.96 33.9 %
Operating Income 26.01 33.34 28.2 %
Net Income 19.02 24.84 30.7 %
Average Shares 3.50 3.50 -
EPS (Riyals) 5.43 7.10 30.7 %

The annual profit growth was driven by higher revenues from SAR 176.05 million in 2022 to SAR 205.11 million in 2023 amid firmer sales volumes. The company also cited expanded business activity in Saudi Arabia and the UAE.



Total shareholders’ equity, excluding minority interest, reached SAR 97.20 million by Dec. 31, 2023, compared to SAR 73.19 million a year earlier.

 

Historical Data

Period

Revenues

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2022

73.85

5.18

5.52

H2 2022

102.2

13.84

3.95

H1 2023

118.81

9.16

2.62

H2 2023

131.31

15.68

4.48

 

View more financial results

 

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