Mouwasat Medical Q1 net profit rises 27pc

20/04/2016 05:51 AST

Mouwasat Medical Services Company, one of Saudi Arabia's largest listed healthcare providers, reported a 27.2 percent rise in first-quarter net profit on Tuesday, beating analyst forecasts as it expanded operations.

The company made a net profit of SR71.1 million ($18.97 million) in the three months to March 31, up from SR55.9 million in the same period a year earlier, it said in a bourse statement.

Four analysts polled by Reuters had on average forecast Mouwasat would make a quarterly profit of SR60.7 million.

Mouwasat attributed its profit rise to its expansion of specialist clinics and further development of its medical systems.

Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later.


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