Medicare Group's Profit Rises 2.1% to QR 36.25 Million; Shareholders Equity Down by 5.6% to QR 959.5 Million

October 11, 2017

Medicare group disclosed the interim financial statement for the period ended September 30, 2017. The statements show that the net profit is QR. 36.25 million riyals compared to net profit amounting to QR. 35.50 million riyals for the same period of the previous year. The Earnings per Share (EPS) amounted to QR. 1.29 for the period ended September 30, 2017 against EPS amounted to QR. 1.26 for the same period of the previous year.

The Group's Comment

Medicare Group's operational income increased by 8% to QR 141.55 million in in the third quarter. Operational cost increased by 8.6% to QR 91.93 million. Adding other sources of income worth 8 million; deducting depreciation allocation worth QR 20.15 million; financing cost worth QR1.27 million, net profit rises by 2.1% to QR 36.25 million. Still, shareholder's equity dropped by 5.6% to QR 959.5 million.