Riyadh - Scientific & Medical Equipment House Company has signed a maintenance and operation contract worth SAR 117.97 million with the Saudi Ministry of Education on 13 September 2022.

Under the three-year agreement, the Saudi listed firm will handle the operation, maintenance, and cleaning services for an educational health centre in Najran University, according to a bourse filing.

Scientific & Medical Equipment House pointed out that the project will reflect on its income statements during the fourth quarter (Q4) of 2022.

It is worth noting that the firm was awarded the contract on 29 August this year.

Last March, Scientific & Medical Equipment House penned an agreement with the Saudi Ministry of Health at a total value of SAR 218.83 million.

During the first half (H1) of 2022, the company’s net profits after Zakat and tax amounted to SAR 33.10 million, an annual drop of 21.70% from SAR 42.30 million.

Revenues went up by 6.70% to SAR 338.90 million in H1-22, compared to SAR 317.70 million in H1-21.

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