Mouwasat Medical Q2 net profit falls 6pc
RIYADH, July 27, 2015
Mouwasat Medical Services Company, one of Saudi Arabia's largest listed healthcare firms, on Monday blamed a 5.6 per cent fall in second-quarter net profit on losses from a recently opened hospital as its earnings missed analyst forecasts.
The company made a net profit of SR56.1 million ($14.96 million) in the three months to June 30, down from SR59.4 million in the same period a year earlier, it said in a bourse statement.
Four analysts polled by Reuters had on average forecast the company would make a quarterly profit of SR60.95 million.
Mouwasat attributed the fall in net profit to losses from the opening of a hospital in Riyadh in November 2014.
Saudi companies issue brief earnings statements early in the reporting period before publishing more detailed results later. - Reuters