Riyadh – Mubasher: Saudi Arabia’s Mouwasat Medical Services on Sunday reported a 7% year-on-year increase in profits during the full-year 2018.

The medical firm’s profits after calculating Zakat and Tax amounted to SAR 360 million ($95.98 million) last year, up from SAR 337 million ($89.84 million) in 2017, according to a statement to the Saudi Stock Exchange (Tadawul).

The rise in 2018 earnings was attributed to an 11.28% growth in revenues, logging SAR 1.67 billion from January to December 2018, compared to SAR 1.51 billion in 2017.

Operational profits levelled up 8.6% to SAR 404 million in the 12-month period ended last December, from SAR 372 million.

Earnings per share (EPS) amounted to SAR 3.6 in 2018, up from SAR 3.37.

“The earnings per share were calculated on 100 million shares,” the statement added.

On 25 February, Mouwasat Medical Services’ board of directors recommended distributing cash dividends of SAR 175 million for the full fiscal year of 2018.

Mouwasat Medical Services’ stock levelled down 0.91% to close Sunday’s trading session at SAR 75.90.