Mouwasat Medical Services Company announces the interim financial results for the period ending on 30-09-2014 (Nine Months)

22 October 2014 08:45 AM

MOUWASAT 4002 35.31% 132.60 34.60

Element		Current quarter	Similar quarter for previous year	% Change Current	Previous quarter	% Change Previous
Net profit (loss)		72	44.1	63.27	59.4	21.21
Gross profit (loss)		113	104.3	8.34	124.1	-8.94
Operational profit (loss)		54.1	48.8	10.86	63.2	-14.4

Element		Current period	similar period for previous year	% Change
Net profit (loss)		189.4	150.8	25.6
Gross profit (loss)		361.3	331.6	8.96
Operational profit (loss)		180.3	167	7.96
Earning or loss per share, Riyals		3.79	3.02	-

All figures are in (Millions) Saudi Arabia, Riyals

Element	Explaination
Reasons of increase (decrease) for quarter compared with same quarter last year	The increase in the net profit during the current Quarter compared with the corresponding Quarter of the previous year due to the continual effective utilization of available resources, the continuous development of medical systems, launching of new services and due to decrease in non-controlling interest from Eastern Medical Services Co located in eastern province having Qatif branch, note that the percentages of ownership in this subsidiary company 51% by Mouwasat Medical Services and 49% of the equity by non-controlling interest, has not achieved expected revenue and due to the capital gains from sale of land amounting to Sr. 21.7 Million at Dhahran.
Reasons of increase (decrease) for period compared with same period last year	The increase in the net profit during the current period compared with the corresponding period of the previous year due to the continual effective utilization of available resources, the continuous development of medical systems, launching of new services and due to decrease in non-controlling interest from Eastern Medical Services Co located in eastern province having Qatif branch, note that the percentages of ownership in this subsidiary company 51% by Mouwasat Medical Services and 49% of the equity by non-controlling interest, has not achieved expected revenue and due to the capital gains from sale of land amounting to Sr. 21.7 Million at Dhahran.
Reasons of increase (decrease) for quarter compared with previous quarter	The increase in Net Profit during the current Quarter compared with the previous Quarter is due to capital gain from sale of land amounting to Sr. 21.7 Million at Dhahran, and the decrease in the operating profit is due to less utilization of available resources because of summer vacations, the month of Ramadan and holidays, this is what expected by the management annually.

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