Mouwasat Medical Services Co. announces its interim Financial results for the period ending on 2018-09-30 ( Nine Months )

28 October 2018 03:13 PM

MOUWASAT 4002 -2.00% 98.00 -2.00

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	416.86	359.47	15.965	408.01	2.169
Total Profit (Loss)	195.23	164.38	18.767	199.56	-2.169
Profit (Loss) Operational	90.46	85.84	5.382	98.77	-8.413
Net Profit (Loss) after Zakat and Tax	80.89	76.73	5.421	87.88	-7.954
Total Comprehensive Income	86.03	81.18	5.974	94.65	-9.107
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	1,263.38	1,075.69	17.448
Total Profit (Loss)	610.78	501.27	21.846
Profit (Loss) Operational	305.44	263.18	16.057
Net Profit (Loss) after Zakat and Tax	274.77	238.18	15.362
Total Comprehensive Income	292.87	250.83	16.76
Total Share Holders Equity (after deducting minority equity)	1,627.76	1,490.34	9.22
Profit (Loss) per Share	2.75	2.38
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year	The reason for the increase in net profit during the current quarter compared to the same quarter of the previous year due to the increase in revenue as a result of growth so contributed by Riyadh branch and with addition in specialized departments along with expansion in sub specialty clinics operations, and due to the continuous effective utilization of available resources and the continuous development of medical systems and enhancement of contractual terms with customers.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter	The reason for the decrease in net profit during the current quarter compared to the previous quarter is due to increase in operating and non-operating expenses as a result of the start of operations of the new branch in Al Khobar during the currents quarter.
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year	The reason for the increase in net profit during the current Period compared to the same Period of the previous year due to the increase in revenue as a result of growth so contributed by Riyadh branch and with addition in specialized departments along with expansion in sub specialty clinics operations, and due to the continuous effective utilization of available resources and the continuous development of medical systems and enhancement of contractual terms with customers.
Type of the external auditor's opinion	Unmodified opinion
Reclassifications in quarter financial result	The Company has adopted IFRS 9 and 15 effective January 1, 2018. Accordingly, some changes have been made in the measurement, recognition, presentation, classification and disclosure method in accordance with these standards as set out in note 2 to the interim consolidated financial statements for the period ended 30 September 2018.
Additional Information	Earnings per share for the nine months SAR 2.75, compared to SR 2.38 for the same period last year, noting that the earnings per share were calculated on 100 million shares. The Extraordinary General Meeting held on June 3, 2018 approved an increase of SR 500 million to 1000 million riyals.

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