Canadian Medical Center Co. announces its Interim Financial Results for the Period Ending on 2023-06-30 ( Six Months )
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 45,217 | 38,917 | 16.19 | ||
| Gross Profit (Loss) | 14,212 | 12,629 | 12.53 | ||
| Operational Profit (Loss) | 8,306 | 9,112 | -8.85 | ||
| Net Profit (Loss) after Zakat and Tax | 8,001 | 7,938 | 0.79 | ||
| Total Comprehensive Income | 7,591 | 7,610 | -0.25 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 90,751 | 87,010 | 4.3 | ||
| Profit (Loss) per Share | 0.1 | 0.1 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Period Compared to Previous Period is Attributed to | The main reason for the increase in net profit in the first half ended June 30 for the fiscal year 2023 compared to the same half of last year is due to:
The company's operating revenues increased in the first half of 2023 AD compared to the first half of 2022 AD. |
| 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 | The interim condensed financial statements of the Company for the six-month period ended June 30, 2022, were reviewed by another auditor who expressed an unmodified conclusion on those statements on August 20, 2022. |
| Reclassification of Comparison Items | N/A |
| Additional Information | 1. The company's operating revenues witnessed a 16.19% increase in the first half of 2023, reaching SAR 45.22 million, compared to SAR 38.92 million in the first half of 2022, primarily attributed to increase of revenues compared to the first half of 2022.
2. The company's gross profits increased by 12.53% to reach SAR 14.21 million in the half-year ended on June 30, 2023, compared to SAR 12.63 million in the same period last year, mainly due to increase in operational revenues.
3. The company's operating profits decreased by 8.84% to reach SAR 8.31 million in the first half of 2023, compared to SAR 9.11 million in the same period last year, due to increase of provision for doubtful debts by SAR 1.97 million, which will be collected before the end of the year.
4. The total shareholders' equity as of June 30, 2023, amounted to SAR 90.75 million, compared to SAR 87.01 million on June 30, 2022, with an increase of 4.30%, noting that there are no minority interests. |
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