Riyadh - Mubasher: Scientific & Medical Equipment House Company was awarded a SAR 27.83 million project contract from the Saudi Ministry of Health on 18 December 2022.

Under the agreement, the Tadawul-listed firm will provide Al Laith General Hospital in Jeddah with cooked nutrition services for five years, according to a bourse filing.

Meanwhile, the deal is expected to reflect on Scientific & Medical Equipment House’s income statements during the fourth quarter (Q4) of 2023.

The company indicated that it will disclose any further details regarding the contract award in due time.

Earlier this month, Scientific & Medical Equipment House unveiled an agreement with the Saudi ministry at a total value of SAR 148.98 million.

In the first nine months (9M) of 2022, the company generated net profits after Zakat and tax worth SAR 41.80 million, lower by 28.55% year-on-year (YoY) than 58.50 million.

Revenues grew by 6.23% to SAR 524.90 million in 9M-22 from SAR 494.10 million in 9M-21, while the earnings per share (EPS) declined to SAR 2.14 from SAR 3.