Saudi: Mouwasat logs $159.73mln profits in 2022

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Riyadh – The net profits after Zakat and tax of Mouwasat Medical Services Company reached SAR 599 million in 2022, up 3.63% from SAR 578 million in 2021.

Revenues surged by 8.86% year-on-year (YoY) to SAR 2.33 billion as of 31 December 2022 from SAR 2.14 billion, according to the annual financial results.

The earnings per share (EPS) settled at SAR 5.99 last year, a rise from SAR 5.78 in 2021.

Last December, the company’s board suggested the distribution of SAR 300 million, equivalent to SAR 3 per share, as cash dividends for 2022.

In the first nine months (9M) of 2022, Mouwasat witnessed a 4.01% decline in net profit after Zakat and tax to SAR 413.90 million, versus SAR 431.19 million.

The revenues increased by 5.16% to SAR 1.67 billion in 9M-22 from SAR 1.59 billion in 9M-21, whereas the EPS dropped to SAR 4.14 from SAR 4.31.