"Care" profit drops to 11.4 million in Q3 by 58%

Net profit of the National Medical Care Company after Zakat and Tax decreased to SR 11.4 million during the third quarter compared to SR 26.4 million during the corresponding quarter of the previous year by 58%.

This came after today's preliminary consolidated financial results for the period ended 30 September 2018 (9 months).
Operating profit reached 17.6 million during the third quarter compared to 29.7 million riyals during the same quarter last year, a decrease of 41%.
The total profit reached 33 million during the third quarter compared to 47 million riyals during the same quarter of the previous year, a decrease of 29%.

The net profit after Zakat and tax during the current period is 57 million riyals, compared to 62 million riyals during the same period of the previous year, down 8%.
Earnings per share reached SR 1.28 during the current period, compared to SR 1.38 during the same period last year.

The reason for the decline in net profit during the current quarter compared to the same quarter of the previous year is due to lower revenues in addition to a settlement work with a customer.

The reason for the decline in net profit during the current quarter compared to the previous quarter is due to lower revenues in addition to a settlement work with a customer.

The reason for the decline in net profit during the current period compared to the corresponding period of the previous year is due to lower revenues in addition to the work of settlement with a customer.

The Company has stated that the items, elements and disclosures of the interim condensed consolidated financial statements for the comparative period have been restated in accordance with the accounting policies applied in the Report and the notes to the interim condensed consolidated financial statements for the current period prepared in accordance with international reporting standards adopted in Saudi Arabia, Saudi Organization for Certified Public Accountants.

Sales / revenues during the current quarter amounted to SR 176.4 million compared to SR 208.3 million for the corresponding quarter of the previous year, a decrease of 15% and a decrease of 11.6% compared to the previous quarter of this year, which amounted to SR 199 million.
Gross profit for the quarter was SAR 33.2 million compared to SR 47 million for the same quarter last year, a decrease of 29%.

Operating profit for the current quarter was SAR 17.6 million compared to SAR 29.7 million for the same quarter last year, a decrease of 41%.

Net profit after Zakat and tax during the current quarter amounted to SR 11.4 million compared to SAR 27 million for the same quarter last year, a decrease of 58%.

Gross income for the quarter reached SR 11.4 million compared to SAR 26.4 million for the same quarter last year, a decrease of 57% compared to SR 20.3 million for the preceding quarter, a decrease of 44.7%.

Sales / revenues during the current period amounted to SR 582.1 million compared to SR 627.3 million for the same period last year, a decrease of 7%.

Total profit during the current period amounted to SR 134.5 million compared to SR 138.4 million for the same period last year, a decrease of 3%.

Operating profit during the current period amounted to SR 75.6 million compared to SR 69.2 million for the same period last year and an increase of 9.8%.

Net profit after Zakah and tax during the current period amounted to SR 57.3 million compared to SR 62 million for the same period last year, a decrease of 8%.
Total income during the current period amounted to SR 57.3 million compared to SAR 59.7 million for the same period last year, a decrease of 4%.

Earnings per share during the current period amounted to SR 1.28 compared to SR 1.38 for the same period last year.

Total shareholders' equity (not minority rights) during the current period amounted to SR 990.6 million compared to SR 965 million for the same period last year, an increase of 2.65%.

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