Mouwasat Medical Services Co. announces its Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )

11 August 2022 03:49 PM

MOUWASAT 4002 -2.00% 98.00 -2.00

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	557.86	526.7	5.92	566.97	-1.61
Gross Profit (Loss)	258.09	246.46	4.72	267.78	-3.62
Operational Profit (Loss)	155.34	154.77	0.37	159.68	-2.72
Net Profit (Loss) after Zakat and Tax	141.48	141.35	0.09	150.21	-5.81
Total Comprehensive Income	141.48	141.35	0.09	150.21	-5.81
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	1,124.83	1,060.83	6.03
Gross Profit (Loss)	525.87	500.76	5.01
Operational Profit (Loss)	315.02	313.27	0.56
Net Profit (Loss) after Zakat and Tax	291.69	288.54	1.09
Total Comprehensive Income	291.69	288.54	1.09
Total Share Holders Equity (after Deducting Minority Equity)	2,620.88	2,317.68	13.08
Profit (Loss) per Share	2.92	2.89
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	The reason for the slight increase in net profit during the current quarter compared to the corresponding quarter of the previous year due to: - 1- Increase in revenue resulting from: - A. Continued performance improvement of newly specialized resources. B. Continuous enhancement of operating efficiency of the available resources. 2- Decrease in selling and distribution expenses during the current quarter compared to the corresponding quarter of the previous year. 3- Increase in other revenues. 4- Reduced financing cost due to the decrease in balance of loans by the value of the instalments paid during the period. It should be noted that the decrease in profit margins during the current quarter compared to the corresponding quarter of the previous year is due to the increase in operating and non-operating expenses related to the operation of the Dammam Hospital Expansion Project and the new Mouwasat Hospital in Madinah.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is	The reason for the decrease in net profit during the current quarter compared to the previous quarter is due to decrease in revenues because of the seasonality of the current quarter, as it coincided with the holy month of Ramadan and the Eid al-Fitr holiday.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The reason for the slight increase in net profit during the current period compared to the same period of the previous year due to: - 1- Increase in revenue resulting from: - A. Continued performance improvement of newly specialized resources. B. Continuous enhancement of operating efficiency of the available resources. 2- Increase in other revenues. 3- Reduced financing cost due to the decrease in balance of loans by the value of the instalments paid during the period. It is worth mentioning that the decrease in profit margins during the current period compared to the same period of the previous year is due to the increase in operating and non-operating expenses related to the operation of the Dammam Hospital Expansion Project and the new Mouwasat Hospital in Madinah.
Statement of the type of external auditor's report	Unmodified conclusion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	N-A
Reclassification of Comparison Items	N-A
Additional Information	The company would like to indicate the possibility of sending investors and financial analysts’ inquiries via email ([email protected]) within 6 working days from the date of publishing the financial statements.

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