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National Medical Care Co. announces the interim financial results for the period ending on 31-12-2017 (Twelve Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) 30,673 -69,693 - 26,996 13.62
Gross profit (loss) 54,914 4,863 1,029.22 46,969 16.92
Operational profit (loss) 34,489 -59,877 - 29,697 16.14
All figures are in (Thousands) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) 92,710 50,273 84.41
Gross profit (loss) 193,322 206,992 -6.6
Operational profit (loss) 103,676 71,451 45.1
Earning or loss per share, Riyals 2.07 1.12 -
All figures are in (Thousands) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year The reason for the profit during the current quarter is due to higher revenues and lower costs compared to the fourth quarter of the previous fiscal year.
Reasons of increase (decrease) for period compared with same period last year The increase in net profit during the current fiscal year is due to the decrease in the cost of revenues and the decrease in administrative and general expenses.
Reasons of increase (decrease) for quarter compared with previous quarter The increase in net profit for the current quarter is due to higher revenues during the fourth quarter.
External auditor's report containing reservation The Auditor report have included an item to draw attention to: (We would like to draw attention to Note 16, which shows that the Board of Directors of the Company decided to engage in preliminary non-binding discussions with Al Hammadi Development and Investment Company (Al Hammadi) to study the possibility of the merger of the two companies. The board have assigned a special internal committee to oversee the merger and a number of consultants were appointed to evaluate and study the expected effects of the merger if it is made).
Reclassifications in quarterly financial results The interim consolidated financial statements have been restated, classified in accordance with the accounting policies applied in the interim consolidated financial statements. These interim financial statements have been prepared in accordance with International Financial Reporting Standards adopted in Saudi Arabia and other standards adopted by the Saudi Organization for Certified Public Accountants
Other notes Revenues for the quarter reached SAR 225.7 million compared to SAR 190 million for the same quarter last year, an increase of 18.8% and an increase of 8% over the previous quarter of the this year, which amounted to SAR 208.3 million. Revenues for the period ended 31 st December SAR 853 million Compared to SAR 900 million for the same period last year, a decrease of 5%. Total gross income for the current quarter was SAR 28 million compared to SAR (70.4) million for the same quarter last year, an increase of 6.0% over the previous quarter of SAR 26.4 million. Total comprehensive income for the period ended 31st December 2017 amounted to SAR 87.8 million compared to SAR 47.4 million for the same period last year, an increase of 85%. Total shareholders' equity (there are no minority rights) reached SAR 993 million at the end of the current period compared to SAR 905.3 million for the same period last year, an increase of 9.7% compared to SAR 965 million at the end of the previous quarter, an increase of 3%.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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