MOUASAT Announces Its Interim Consolidated Financial Results

20/01/2013 09:46 AST

MOUWASAT MEDICAL SERVICES ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDING 31/12/2012 (TWELVE MONTHS)

1 - The company has achieved net profit SAR 42.6 million during the 4th quarter ended 31st Dec 2012, an increase of 22.7% compared to the profit for the same quarter last year SAR 34.7 million. An increase of 20 % compared to 3rd quarter 2012 SAR 35.4 million.

2 - The gross profit for the 4th quarter ended 31st Dec 2012 SAR 101.1 million, compared to same quarter last year SAR 89.1 million @ 13.4% increase.

3 - The operating profit for the 4th quarter ended 31st Dec 2012 SAR 43.7 million, compared to the same quarter last year SAR 41.9 million @ 4.3% increase.

4 - The consolidated net profit for the Twelve months period ended 31st Dec 2012 amounted to SAR 171.6 million, an increase of 15.8% compared to profit for the same period last year SAR 148.1 million.

5 - Earnings per share (EPS) for the Twelve Months ended 31st Dec 2012 SAR 3.43 compared to SAR 2.96 for the same period last year is calculated based on 50 Million shares as approved by Extra Ordinary Annual General Meeting held on 2nd April 2012 to increase the Capital from SAR 250 Million to SAR 500 Million.

6 - The gross profit for the Twelve month period ended 31st Dec 2012 amounted to SAR 372.7 million, an increase of 15% compared to profit for the same period last year SAR 324 million.

7 - The operating profit for the Twelve month period ended 31st Dec 2012 amounted to SAR 186 million, an increase of 9.8% compared to profit for the same period last year SAR 169.3 million.

8- The reason for the increase in net profit during current Quarter compared with the same quarter of the previous year due to the effective utilization of the available resources, the continuous development of medical systems, and the continuous expansions of medical services.

9- The reason for the increase in net profit during the current period compared with the previous period of last year due to the effective utilization of the available resources, the continuous development of medical systems, and the continuous expansions of medical services

10- The reason for the increase in net profit during current quarter compared with previous quarter of the current year due to the increase in the revenue, as well as the holy month of Ramadan, summer vacation and Eid holidays has impacted negative the result of the previous quarter of the current year, accordingly a decline in operating the available resources during the quarter indicated.

Tadawul