Future Care posts SAR 13.7M profit in 2023
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Future Care Trading Co. posted an over twofold increase in 2023 net profit to SAR 13.7 million from SAR 5.1 million a year earlier.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 34.13 | 50.98 | 49.4 % |
| Gross Income | 12.24 | 20.90 | 70.8 % |
| Operating Income | 5.77 | 12.85 | 122.8 % |
| Net Income | 5.13 | 13.66 | 166.5 % |
| Average Shares | 500.00 | 500.00 | - |
| EPS (Halala) | 1.03 | 2.73 | 166.5 % |
The higher profit was spurred by a 49.39% year-on-year (YoY) rise in revenue, while expenses increased by 34.47% compared with 2022.
The revenue growth was driven by the higher number of patients, the opening of new branches in Riyadh and Dammam, as well as improved services. The company also embarked on expansion plans.
Current Half Annual Comparison (M)
| Item | H2 2022 | H2 2023 | Change |
|---|---|---|---|
| Revenues | 19.09 | 27.95 | 46.4 % |
| Gross Income | 3.98 | 9.29 | 133.2 % |
| Operating Income | 0.94 | 7.34 | 681.7 % |
| Net Income | 0.36 | 7.77 | 2079.4 % |
| Average Shares | 500.00 | 500.00 | - |
| EPS (Halala) | 0.07 | 1.55 | 2079.4 % |
Shareholders’ equity, no minority interest, reached SAR 73.64 million as of Dec. 31, 2023, up from SAR 58.47 million in the prior-year period.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2021 |
41.07 |
20.06 |
0.04 |
|
H2 2021 |
30.96 |
16.64 |
0.03 |
|
H1 2022 |
15.04 |
4.77 |
0.01 |
|
H2 2022 |
19.09 |
0.36 |
0.00 |
|
H1 2023 |
23.04 |
5.89 |
0.01 |
|
H2 2023 |
27.94 |
7.77 |
0.02 |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2023 | 23.04 | 53.2 % | 11.61 | 40.6 % | 5.50 | 14.0 % |
| H2 2023 | 27.95 | 46.4 % | 9.29 | 133.2 % | 7.34 | 681.7 % |
| 2023 | 50.98 | 49.4 % | 20.90 | 70.8 % | 12.85 | 122.8 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Halala) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2023 | 5.89 | 23.5 % | 1.18 | - | 5.89 | 0.01 |
| H2 2023 | 7.77 | 2079.4 % | 1.55 | - | 7.77 | 0.02 |
| 2023 | 13.66 | 166.5 % | 2.73 | - | 13.66 | 0.03 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2023 | 37.01 % | 20.52 % | 14.83 % |
| H2 2023 | 40.99 % | 28.91 % | 26.80 % |
| 2023 | 40.99 % | 28.91 % | 26.80 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Halala) | Adjusted EPS (Halala) | Book Value (BV) |
|---|---|---|---|---|
| H1 2023 | 500.00 | 1.25 | 1.25 | 0.13 |
| H2 2023 | 500.00 | 2.73 | 2.73 | 0.15 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2023 | More than 100 | More than 100 | 299.08 |
| H2 2023 | More than 100 | More than 100 | 100.89 |
| Current | |
| Market Cap (M Riyal) | 5,250.00 |
| Enterprise Value (EV) (M) | 5,199.01 |
| Shares Outstanding ((M)) | 500.00 |
| Book Value (BV) ( Riyal) | 0.15 |
| Par Value ( Halala) | 10.00 |
| Adjusted P/E (Last12) | More than 100 |
| Price/book | 71.29 |
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