Medicare Group reports 18% jump in H1 profit to QR96.02mn

21/07/2015 09:19 AST

Medicare Group has reported an 18% jump in net profit to QR96.02mn in the first six months of this year on the back of strong core earnings.

Operating income grew 21% to QR306.38mn but operating costs rose by 22% to QR160.54mn; yet translating as 20% expansion in gross profit to QR145.83mn, according to its financial statement filed with the Qatar Stock Exchange.

Other income surged 28% to QR9.93mn; while income from deposits with an Islamic bank fell 35% to QR0.6mn.

General and administrative expenses shot up 24% to QR48.22mn. The healthcare service provider also reported QR0.39mn as finance cost.

Total assets were valued at QR1.08bn comprising current assets of QR0.32bn and non-current assets of QR0.76bn.

Total equity stood at QR882.82mn on a capital base of QR281.44mn and earnings-per-share was QR3.41 at the end of June 30, 2015.

Gulf Times

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