Riyadh - Mubasher: Medical and Scientific Equipment House (MSE) reported a 12.05% decline in net profits during the first quarter of 2025, compared to the same quarter of 2024.

The company's results on the Saudi Stock Exchange (Tadawul) on Monday revealed a decline in net profit to SAR 7.3 million in the first quarter of this year, compared to SAR 8.3 million in the same period last year.

The company explained that the decline in net profits was due to higher operating costs, including salaries and wages for medical staff, labor costs, subcontracting costs, and food costs.

The company's revenues increased by 2.54% during the first quarter of 2025, to SAR 221.7 million, due to higher revenues from the operations and maintenance sector and the contracting sector.