Riyadh – Mubasher: Mouwasat Medical Services Co on Monday said its net profits increased by 19.78% year-on-year in the second quarter of 2017.
Profits amounted to SAR 76.3 million in Q2-17, compared to SAR 63.7 million in Q2-16.
Quarter-on-quarter, profits retreated 10.34%, according to a company statement to the Saudi Stock Exchange (Tadawul).
The medical services firm attributed the growth in its year-on-year profits to the increase in the revenues of its Riyadh branch.
Mouwasat’s revenues went up 17.7% reaching SAR 353 million in Q2-17, compared to SAR 300 million in the year-ago period.
At the level of the first six months of 2017, the Tadawul-listed company's profits rose 22.16% to SAR 161.5 million, from SAR 132.2 million in H1-16.
Revenues levelled up 18.5% to reach SAR 716 million in H1-17, compared to SAR 604 million in the corresponding period in the year earlier.
Mouwasat’s stock tumbled 1.29% on Sunday, closing at SAR 153.
