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(The
Group's Comment) Medicare
Group Net Profit Rises 5.6% to QR 84.51 Million
January 31, 2019
Profit:
The Company's profits amounted to QR84.51 million in 2018,
compared to QR80.00 million in 2017, up by 5.64%.
Profit realized in the
last fourth quarter was QR43.76 million, compared to QR43.75
million in the fourth quarter of 2017. Earnings per share hit QR
3.00 per share, compared to QR2.84 per share in 2017.
Revenues: It increased by
2.89% in 2018 to QR 484.21 million, compared to 470.62 million
in 2017. The operating costs to revenues ratio reached 58.89%.
The profit margin ratio was 41.11% for 2018, while the operating
cost to revenues ratio reached 57%, with gross profit margin at
43% in 2017.
Comprehensive Income:
Total comprehensive
income amounted to QR130.92 million in 2018, compared to QR
71.44 million at the end of 2017. The statement of comprehensive
income shows an increase in the fair value of property and
investments by QR 46.38 million in
2018, compared to a decline of QR 8.56 million 2017.
Assets: The assets of the
company at the end of 2018 amounted to QR 1,207.85 million
compared to 1,001.75 million at the end of 2017. Net fixed
assets constitute about 82.56% of the total assets. Receivables
item is of importance and impact on the company's profits, and
it stood at QR168.75 million in 2018.
Net receivables
(deducting provision) amounted to QR 93.36 million, ie, about
45% of receivables are doubtful. It is worth noting that the
company deducted an amount of QR 16 million as provision for the
latter in 2017, compared
to QR 1million 2018.
Shareholders
'Equity: It reached QR 1,017.98 million at the end of 2018,
compared to QR 1,001.75 million at the end of 2017. The return
on equity was about 8.30% in 2018, and the book value of the
share was QR 36.17 per share.
Dividends: The Board of
Directors recommended to the General Assembly the distribution
of 30% (4.55% dividend yield) of the nominal value of share
capital as cash dividends for 2018, compared to 40% in 2017.
The stock is currently traded at
a PE multiple of 22.00 times, and a book value multiple of 1.83
times.
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