AME Profits Increase to SR15.4 mln at end of H1, by 62%

The net profit after zakat and tax for AME Company for Medical Supplies Company grew to SR15.4 million during the first half, compared to SR9.5 million during the same period of the previous year, at a rate of 62%.
This came after the announcement on Sunday of the financial results for the period ending on 30-06-2022 “6 months”.
The operational profit amounted to SR17 million during the first half, compared to 10 million during the same period of the previous year, an increase of 68%.
The gross profit amounted to SR49 million during the first half, compared to SR27 million during the same period of the previous year, an increase of 83%.
The net profit after zakat and tax during the current period amounted to SR274 million, compared to SR436 million during the same period of the previous year, a decrease of 37.16%.
Profits per share during the current period amounted to SR2.2, compared to SR1.36 during the same period of the previous year.
The reason for the increase in net profit during this period of this year compared to the same period of the previous year is due to the increase in sales of medical supplies and devices by SR54.28 million. This increase resulted from the company’s acquisition of a larger market share thanks to the company’s participation in local and international conferences, making more efforts to advertise and marketing its products, and appointing new employees in the sales and marketing departments to cover more and respond quickly to customers.
There is no reclassification of comparative figures.
Additional Information:
With regard to revenue:
The Net revenues for the period of the current year increased by SR54.28 million. The increase is mainly due to increased sales of medical supplies and equipment. This increase resulted from the company’s acquisition of a larger market share, as well as thanks to the company’s participation in local and international conferences and making more efforts to advertise and market its products.
Marketing and selling expenses:
The increase in selling and marketing expenses is mainly due to an increase in marketing expenses of approx. SR8.2 million as a result of the increase in sales as marketing expenses are directly related to sales for the year and sales have increased which led to an increase in marketing expenses. Furthermore, the salary cost for sales and marketing increased due to the increase in the number of employees in the department due to the new hires of employees in the sales department and due to increases in their annual salaries, which affected the overall increase