‎“Al-Dawaa profits” increased to SR89 million during Q2, by 11%‎

The net profit after zakat and tax for Al-Dawaa Medical Services Company rose to 89 million riyals during the second quarter, compared to 81 million riyals in the same quarter of last year, by 11%. This came after today’s announcement of the preliminary financial results for the period ending on June 30, 2023.

The operational profit amounted to 122 million riyals in the second quarter, compared to 91 million riyals in the same quarter of last year, with a growth of 35%.

As for gross profit, it amounted to 526 million riyals in the second quarter, compared to 507 million riyals in the same quarter of last year, an increase of 4%.

The net profit after zakat and tax during the 6-month period amounted to 166 million riyals, compared to 168 million riyals in the same period last year, a decrease of 1%.

Earnings per share in the current period amounted to 1.95 riyals, compared to 1.97 riyals in the same period last year.

The reason for the increase in net profit by 8.7 million riyals, or 10.7% compared to the corresponding quarter of the previous year 2022, is due to the following:

Revenue: The company achieved an increase in revenues in the second quarter of 2023 amounting to 126.5 million Saudi riyals, or 9.7% over the same quarter of the previous year 2022 AD.

Total profits: Total profits in the second quarter of 2023 amounted to 525.6 million Saudi riyals, which amounted to 506.7 million riyals in the same quarter of the previous year 2022, achieving an increase of 18.8 million Saudi riyals, or 3.7% over the second quarter. 2022 AD.

Operational profits: Operating profits in the second quarter of 2023 amounted to 122 million Saudi riyals, with an operating profit margin of (8.5%) of net sales, which amounted to 90.5 million Saudi riyals in the same quarter of the previous year 2022, with an operating profit margin ( 7% of net sales, achieving an increase of 31.4 million Saudi riyals, or 34.8% over operating profits for the same quarter of the previous year 2022.

Net profit: The net profit margin reached (6.2%) in the second quarter of the year 2023 AD, which corresponds to the profit margin (6.2%) for the same quarter of the previous year 2022 AD, thus achieving an increase in the net profit in the second quarter of 2023 by 10.7%, at a value of 8.7 million Saudi riyals, compared to the same quarter of the previous year 2022 AD, mainly due to the increase in sales and the decrease in selling and distribution expenses.

The reason for the increase in net profit by 13 million riyals, or 17.2% compared to the previous quarter of 2023, is due to the following:

Revenues: The company achieved an increase in revenues in the second quarter of 2023 amounting to 29.1 million Saudi riyals, at a rate of 2.1% compared to the previous quarter of 2023 AD.

Gross profit: Gross profit decreased from the previous quarter of 2023 by 9.3 million Saudi riyals, or by 1.7%.

Operating profits: Operating profits increased in the second quarter of 2023 AD compared to the previous quarter 2023 AD by 7 million riyals, or by 6.1%.

Net profit: The net profit increased from the previous quarter of 2023 by 13 million Saudi riyals, or by 17.2%. This is due to the increase in sales and the decrease in selling and distribution expenses.

The reason for the decrease in net profit during the current period of 2023 AD compared to the same period of the previous year 2022 AD is due to the following:

Revenues: The company achieved an increase in revenues in the first half of 2023 amounting to 239.3 million Saudi riyals, or 9.2% over the same period of the previous year 2022 AD.

Total Profits: Total profits in the first half of 2023 amounted to 1,060 million Saudi riyals, compared to total profits in the same period of the previous year, which amounted to 1,000 million Saudi riyals, achieving an increase of 59.6 million Saudi riyals, by 6 percent. % compared to the same period of the previous year 2022 AD.

Operating profits: Operating profits in the first half of 2023 amounted to 237 million Saudi riyals, with a profit margin of (8.3%) from net sales, which in the same period of the previous year 2022 amounted to 161.2 million Saudi riyals, with a profit margin of (6.2%). ) from net sales, thus achieving an increase of 75.7 million Saudi riyals, or 47% over the operating profits for the same period of the previous year 2022 AD.

Net profit: The company achieved a net profit of 165.6 million riyals in the first half of 2023, with a profit margin of (5.8%) of net sales, compared to a net profit of 167.7 million riyals and a profit margin of (6.4%) in the same period of the year. The previous year 2022 AD, achieving a decrease in net profit amounting to 2.1 million riyals, by 1.3% compared to the same period of the previous year, and this is due to the increase in other revenues in the similar period of the previous year 2022 AD.