Riyadh – Mubasher: Mouwasat Medical Services Company on Monday posted a 30.12% year-on-year surge in its net profits during the fourth quarter of 2017.

Mouwasat’s net profits amounted to SAR 98.5 million in Q4-17, compared to SAR 75.7 million during in the same period a year earlier, according to a statement to the Saudi Stock Exchange (Tadawul).

For the full year of 2017, the Tadawul-listed firm’s net profits hit SAR 336.7 million, compared to SAR 257.2 million in the year before.

The Saudi Arabia-based healthcare provider attributed the growth in its annual net profits to a rise in revenues as a result of an increase in Riyadh branch’s revenues, in addition to expansions in operating sub-specialty clinics.

The stock fell 1.46%, closing Monday at SAR 167.56.