Balsam Medical’s Profits Rise to SAR 4.8 Million by End of 2024, Up 15%

Balsam Alofoq Medical Company (“Balsam Medical”) reported a net profit growth of 15% for the year ending in 2024, reaching SAR 4.8 million compared to SAR 4.1 million in 2023. This announcement follows the release of the company’s annual financial results for the period ending December 31, 2024.

The operating profit increased to SAR 4.7 million in 2024, compared to SAR 4.07 million in the previous year, marking a 16% rise.

Total equity, excluding non-controlling interests, reached SAR 29 million by December 31, 2024, compared to SAR 14 million in the prior year, reflecting a 101% increase.

Earnings per share stood at SAR 4.68 in 2024, down from SAR 5.64 in 2023.

In a statement on “Tadawul” today, the company reported that revenues for 2024 grew by 10.11% year-on-year, reaching SAR 19.85 million—an increase of SAR 1.82 million. This growth was primarily driven by increased operational capacity, enhanced performance efficiency, continued growth in patient visits to medical clinics, and expansion in the import and sale of medical supplies and equipment.