Saudi: Mouwasat’s profits up in H1-14; revenues surpass $373mln

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Riyadh – Mouwasat Medical Services Company recorded an annual rise of 2.24% in net profit to SAR 324.28 million in the first half (H1) of 2024, versus SAR 317.15 million.

The Saudi group achieved revenues valued at SAR 1.41 billion in H1-24, higher by 9.40% year-on-year (YoY) than SAR 1.29 billion, according to the financial results.

Earnings per share (EPS) fell to SAR 1.62 as of 30 June 2024 from SAR 1.59 in the year-ago period.

Financials for Q2-24

In the second quarter (Q2) of 2024, the net profits amounted to SAR 152.70 million, up 1.43% from SAR 150.54 million a year earlier.

Revenues grew by 10.03% to SAR 690.30 million in April-June 2024 from SAR 627.34 million in Q2-23.

Quarter-on-quarter (QoQ), the profits in Q2-24 retreated by 11% from SAR 171.58 million in Q1-24, while the revenues fell by 4.49% from SAR 722.78 million.