Riyadh –Mubasher: Mouwasat Medical Services Company (Mouwasat) reported a 15% year-on-year jump in profits for the third quarter of 2019, recording SAR 93.04 million.

The company generates SAR 443.29 million in revenues during Q3-19, 9.6% higher than SAR 404.27 million in Q3-18, according to the firm’s filing to the Saudi Stock Exchange (Tadawul) on Wednesday.

The increase in profits was mainly driven by the rise in revenue resulting from the expansion of the operation of the sub-specialities clinics, as well as the addition of new specialized departments and due to the continuous effective utilization of available resources.

During the nine-month period ended September, net profits of Mouwasat increased by 5.74% to SAR 290.56 million, compared to SAR 274.77 million in the same period a year ago.

On a yearly basis, total revenues jumped by 10.7% to SAR 1.35 billion by the end of September.

Profit per share recorded SAR 2.91 in a nine-month period, versus SAR 2.75 in the same period last year.