Riyadh – Mubasher: Arabian International Healthcare Holding Company (Tibbiyah) announced that its subsidiary Al Faisaliah Medical Systems Company inked a SAR 25.89 million deal with the National United Procurement Company (NUPCO).
Under the agreement, Tibbiyah’s unit will provide NUPCO with general medical devices for 141 days, according to a bourse disclosure.
The listed firm indicated that the two parties signed the contract on 21 August 2023, adding that it will reflect on its income statements during the second half (H2) of 2023.
Last year, Tibbiyah generated SAR 25.76 million in net profit after Zakat and tax, down 68.70% from SAR 82.31 million in the 12-month period that ended on 31 December 2021.
Revenues grew by 3.90% to SAR 642.67 million in 2022 from SAR 618.54 million a year earlier, while the earnings per share (EPS) plummeted to SAR 1.29 from SAR 4.12.
