Saudi: Aldawaa Medical Services records 12.5% higher profits in 2024

PHOTO
A Saudi trader observes the stock market on monitors at Falcom stock exchange agency in Riyadh, Saudi Arabia February 7, 2018. Reuters, Faisal Al Nasser

The net profits of Aldawaa Medical Services Company climbed by 12.41% year-on-year (YoY) to SAR 370.10 million in 2024 from SAR 329.22 million.

The company generated revenues valued at SAR 6.45 billion last year, higher by 12.35% than SAR 5.74 billion in 2023, according to the initial financial results.

Earnings per share (EPS) increased to SAR 4.35 in 2024 from SAR 3.87 as of 31 December 2023.

Quarterly Results

In the fourth quarter (Q4) of 2024, the net profits stood at SAR 103.81 million, up 12.40% from SAR 92.35 million in Q4-23.

Meanwhile, the revenues jumped by 18.10% YoY to SAR 1.72 billion in Q4-24 from SAR 1.45 billion.

Quarter-on-quarter (QoQ), the Q4-24 profits hiked by 38.25% from SAR 75.08 million in Q3-24, while the revenues surged by 5.88% from SAR 1.62 billion.

During the first half (H1) of 2024, the company registered SAR 191.20 million in net profit, an annual growth of 15.47% from SAR 165.58 million.