Nahdi Medical Co. announces its Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 2,239.5 | 2,070.1 | 8.18 | 2,079.5 | 7.69 |
| Gross Profit (Loss) | 926.3 | 860 | 7.71 | 851.7 | 8.76 |
| Operational Profit (Loss) | 305.8 | 259.6 | 17.8 | 264.4 | 15.66 |
| Net Profit (Loss) after Zakat and Tax | 268.5 | 226.8 | 18.39 | 237.5 | 13.05 |
| Total Comprehensive Income | 303.1 | 205.9 | 47.21 | 236.5 | 28.16 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 4,319 | 4,051.2 | 6.61 |
| Gross Profit (Loss) | 1,778 | 1,639.7 | 8.43 |
| Operational Profit (Loss) | 570.2 | 485.8 | 17.37 |
| Net Profit (Loss) after Zakat and Tax | 506 | 421.8 | 19.96 |
| Total Comprehensive Income | 539.6 | 400.9 | 34.6 |
| Total Share Holders Equity (after Deducting Minority Equity) | 2,143.2 | 2,019.7 | 6.11 |
| Profit (Loss) per Share | 3.89 | 3.24 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | 'Net Profit increased by 18.4% in the current quarter compared to the same quarter of last year, reaching SAR 268.5 Million, with an increase of SAR 41.7 Million compared to SAR 226.8 Million in the corresponding quarter of the previous year, due to the following:
1. Revenue increased by 8.2% mainly driven by the growth in the Pharma segment which was impacted by the increased COVID cases, with the easing up of corona related restrictions and the increased social events and gatherings, in addition to the increased number of pilgrims to the Haram mosques in Makkah & Madinah.
2. Gross Profit increased by 7.7% which is closely in line with revenue growth.
3. Operating Expenses increased by 4.7% at a lower rate versus revenue growth, resulting in an operating margin improvement of 1.1% versus the same quarter of last year. This is in line with the phasing pattern of our operating expenses.
4. Net Profit increased by 18.4% driven by revenue growth and lower operating expense, resulting in a profit margin improvement by 1.0%, reaching 12.0% of revenue in the current quarter compared to 11.0% in the same quarter of last year. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | Net Profit increased by 13.1% in the current quarter compared to the previous quarter of the current year driven by the sales growth due to Ramadan season (increase in number of Pilgrims for Umrah), and the phasing pattern of operating expenses by quarters. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net Profit increased by 20.0% in the current period compared to the same period of last year, reaching SAR 506.0 Million, with an increase of SAR 84.2 Million compared to SAR 421.8 Million in the corresponding period of the previous year, due to the following:
1. Revenue increased by 6.6%, mainly driven by the growth within the Pharma segment which was impacted by the increased COVID cases, with the easing up of corona related restrictions and the increased social events and gatherings, in addition to the increased number of pilgrims to the Haram mosques in Makkah & Madinah.
2. Gross Profit increased by 8.4% as a result of sales growth and positive product mix. Gross margin improved by 0.7% reaching 41.2% of revenue in the current period compared to 40.5% in the same period of last year due to the favorable product mix.
3. Operating Expenses increased by 6.3%, in line with sales growth. Additionally there is an increase in other operating revenue.
4. Net Profit increased by 20.0% driven by the growth in revenue and gross profit. The profit margin improved by 1.3% reaching 11.7% of revenue in the current period compared to 10.4% in the same period of last year, mainly driven by the improvement in gross margin (as a result of product mix). |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | None. |
| Additional Information | There is a favorable increase in Other Comprehensive Income due to the global increase in interest rates, impacting the actuarial estimate for end-of-service indemnity. |
Comments