Saudi Arabia .. Al -Jazeera Capital submits the recommendation of the “sponsorship” share to “increasing the centers”

Al -Jazeera Capall has raised its recommendation to the share of the National Medical Care Company “sponsorship” to “increasing the centers”, with the improvement of operating rates in Al Salam Hospital and future expansion, and the stock decreased by 17% recently.

Al -Jazeera Capall reduced the target price of 7% to 188 Saudi riyals per share.

She said in a report on the operational standards of the “Care” company, that it had achieved a growth in it, as it achieved a net profit for the fiscal year 2024 at a value of 298.2 million Saudi riyals, with a growth of 11.7% compared to the previous year.

Al -Jazeera Capital explained this positive performance by increasing the numbers of patients and increasing the absorptive capacity since the fourth quarter of the 2023 fiscal year by 54% with new expansions.

The fourth quarter of the year 2024 witnessed an increase in the operating rate by 11.6% over the same period in the previous year.

Nevertheless, the results of the fourth quarter of the year 2024 showed indications of increasing the costs of the company, and Al -Jazeera Capital expected that some of it will continue in the medium term with an increase in the operating rates of Al Salam Hospital and the administration adopting its strategy for integration and acquisition.

In view of the non -repeated positive events, we appreciate that the net profit of the “sponsorship” company for the fourth quarter of the year 2024 is up to 60 million Saudi riyals, recording a decrease of 2.4% from the same period in the previous year and stable about its level of the previous quarter, compared to the advertiser of 87.19 million Saudi riyals.

This is due to the increase in administrative, public and marketing expenses by 41.2%, and the total profit margin of 230 points from the same period in the previous year.

Al -Jazeera Capital also expects the continuation of some costs, and this led to its amendment to its expectations and the reduction of the expected annual growth rate of the net profit from 16.2% to 14.9% during the period 2023 – 2029.

Al -Jazeera Capital is a leading Saudi investment company that provides a variety of financial and investment services, and provides investment solutions compatible with Islamic law, and Al Jazeera Capital services include financial mediation, asset management, investment consultations, and investment banking services.