Middle East Healthcare Co. announces its Annual Financial Results for the Period Ending on 2021-12-31

31 March 2022

Introduction
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	1- Increase in selling and marketing expenses because of re-branding of the group. 2- Increase in consultancy expenses due to cost optimization project. 3- Increase in financial cost and accrual of zakat is impacting on profit
Statement of the type of external auditor's report	Unmodified opinion
Reclassification of Comparison Items	Certain figures of the previous year have been reclassified and regrouped to conform to the presentation as per International Financial Reporting Standard as endorsed in the Kingdom of Saudi Arabia.
Additional Information	During 2021, management conducted a detailed review of certain long outstanding receivables and discovered that certain invoices raised in prior years until 31 December 2020 were rejected by the customers. Accordingly, revenues from rejected services/invoices and related receivables until 31 December 2020 have been corrected by restating each of the affected consolidated financial statement line items for the prior periods