Twareat Medical Care Reports SAR 13.23M Net Profit in the Six Months 2026
TMC 9627.SA | 0.00 |
On 2026-08-16 08:00:14 (Saudi Time), Twareat Medical Care Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 149,763 | 90,720 | 65.082 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 13,225 | 5,525 | 139.366 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 59,868 | 62,764 | -4.614 | ||
| Profit (Loss) per Share | 0.33 | 0.14 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is |
The company’s revenues for the first half of 2026 increased to 149.7 million SAR, compared to 90.7 million SAR for the same period of the previous year, an increase of 59 million SAR, representing 65% growth.
This increase is attributed to the execution of a new project for the National Unified Procurement Company (NUPCO), in addition to the commencement of new medical service contracts in the Eastern Region. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is |
The company’s net profit for the current period reached 13.2 million SAR, compared to 5.5 million SAR for the same period of the previous year, an increase of 7.7 million SAR, representing 140% growth, this increase is due to:
• Execution of a project for NUPCO in addition to commencement of new medical service contracts. • A decrease in general and administrative expenses due to professional fees incurred in the comparable period last year. This increase was partially offset by: • Increase in expected credit losses. • Increase in finance costs during the current period compared to the same period last year. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | In accordance with IFRS requirements, the company reclassified selling and marketing expenses for the six-month period ended 30 June 2025, transferring them from general and administrative expenses to a separate line-item titled Selling and Marketing Expenses in the statement of profit or loss and other comprehensive income. |
| Additional Information | The earnings per share (EPS) for the six-month period ended 30/06/2026 amounted to SAR 0.33, calculated by dividing the company’s net profit of SAR 13,225,041 by the weighted average number of shares totaling 40,000,000. Similarly, the EPS for the six-month period ended 30/06/2025 amounted to SAR 0.14, calculated by dividing the company’s net profit of SAR 5,525,090 by the same weighted average number of shares totaling 40,000,000”. |
Year-on-Year Performance Drivers
Sales increased 65.082% YoY to SAR 149.76 million (from SAR 90.72 million), driven by the execution of a new project for the National Unified Procurement Company (NUPCO) and the commencement of new medical service contracts in the Eastern Region. Net profit surged 139.366% YoY to SAR 13.23 million (from SAR 5.53 million), supported by the same revenue growth drivers alongside a decrease in general and administrative expenses due to professional fees incurred in the prior comparable period. These gains were partially offset by an increase in expected credit losses and higher finance costs during the current period.
Other Items
Twareat Medical Care Co.'s interim financial results for the six months ended June 30, 2026 received an unmodified conclusion from the external auditor. Total shareholders' equity (after deducting minority equity) stood at SAR 59,868 thousand, a decline of 4.614% compared to SAR 62,764 thousand in the same period of the prior year. Earnings per share for the current period amounted to SAR 0.33, calculated by dividing the net profit of SAR 13,225,041 by a weighted average of 40,000,000 shares. In accordance with IFRS requirements, the company reclassified selling and marketing expenses for the six-month period ended June 30, 2025, transferring them from general and administrative expenses to a separate line item titled Selling and Marketing Expenses in the statement of profit or loss and other comprehensive income. No accumulated losses or material risk warnings, including those related to going concern or debt default, were disclosed in this announcement.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97622&anCat=1&cs=9627&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.