Riyadh - Mubasher: Scientific & Medical Equipment House Company was awarded a project contract worth SAR 8.71 million on 6 December 2022, according to a bourse filing.

The Tadawul-listed firm will handle the operation works in four medical centres, which are affiliated with the General Administration of Medical Services, in Riyadh, Jeddah, Taif, and Al Muzahimiyah.

The four facilities are Al Nakheel Medical Complex, Jeddah Medical Center, Taif Medical Center, and Al Muzahimiyah Medical Center.

Scientific & Medical Equipment forecast that the 14-month deal will reflect on its income statements during the second quarter (Q2) of 2023.

Meanwhile, the company will disclose any further developments regarding the agreement in due time.

Last November, the Saudi Ministry of Human Resources awarded Scientific & Medical Equipment two contracts at a total value of SAR 280.85 million.

In the first nine months (9M) of 2022, the company’s net profits after Zakat and tax declined by 28.55% to SAR 41.80 million, compared to 58.50 million in the year-ago period.

Revenues went up by 6.23% to SAR 524.90 million in 9M-22 from SAR 494.10 million in 9M-21, whereas the earnings per share (EPS) plummeted to SAR 2.14 from SAR 3.