Riyadh — Mubasher: Al Modawat Specialized Medical Company registered a net profit of SAR 5.96 million in the first half (H1) of 2026, signaling a 41.92% decrease from the SAR 10.26 million recorded in H1-25.

Earnings per share (EPS) declined to SAR 0.08 in H1-26 from SAR 0.14 in H1-25, according to a bourse filing.

The decline in profitability occurred despite a 31.04% rise in revenues, which reached SAR 72.36 million in H1-26 compared to SAR 55.22 million a year earlier.

The company attributed the lower profit to increased operational readiness costs and higher staffing levels as it prepares to upgrade its hospital license to exceed 100 beds.

This strategic expansion is expected to increase pricing for services provided to the National Health Insurance Authority by 21%, a segment that currently accounts for 60% of total revenue.

Operational performance showed significant improvement, with cash flow from operating activities rising to SAR 19.94 million in H1-26 from SAR 2.67 million in H1-25.

Meanwhile, total equity stood at SAR 89.36 million in H1-26, a 2.73% increase year-on-year.

Total assets grew to SAR 186.44 million as of 30 June 2026 from SAR 160.81 million as of 31 December 2025.

The company invested SAR 9.91 million in property and equipment during the period to support its capacity expansion and long-term growth plans.