Aldawaa’s H1 2022 profit up 27% to SAR 167.8 mln, Q2 at SAR 80.7 mln

Aldawaa Medical Services Co. (DMSCO) recorded a 27% increase in H1 2022 net profit after Zakat and tax to SAR 167.8 million, from SAR 131.8 million a year earlier.

The company reported an increase of 5.19% year-on-year YoY), or SAR 128.5 million in revenue during the first half of 2022.

The first-half gross profit rose 10% YoY to SAR 1.001 billion, implying a margin of 38.4%.

Operating profit grew by 14.16% YoY to SAR 161 million, accounting for 6.2% from net sales.

In Q2 2022, net profit after Zakat and tax leapt 52% to SAR 80.7 million, from SAR 52.9 million a year earlier, as revenue rose by 3.4% YoY. Gross and operating profit increased by 10.7% and 35.3% YoY, respectively in the three-month period.

The company’s net profit dropped 7.4% from SAR 87.11 million on a sequential basis, hut by a decrease in the fair value gain on swap derivatives liabilities compared to Q1 2022.

Shareholders’ equity, after minority interest, dropped to SAR 1.086 billion by the end of H1 2022, from SAR 1.253 billion a year earlier.

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