Research firm affirms positive Raymond outlook

Aljazira Capital has confirmed that National Medical Care "Raya" achieved strong results in the second quarter of 2026, supported by an increase in revenues due to the recovery of referrals from the General Social Insurance Corporation and a 20% rise in patient numbers. The company recorded a net profit of 94 million riyals, exceeding expectations which ranged between 67 and 72 million riyals, representing a 17.6% increase compared to the previous year and a 79.1% increase compared to the previous quarter, thanks to improved operational efficiency and higher margins. Revenues also grew by 14.7% year-over-year, with an improved gross profit margin of 37.1%, despite cost pressures. Medium-term outlook remains positive with continued growth in capacity and improvements in occupancy levels, along with a recommendation to increase holdings in the company's stock with a target price of 162 riyals.

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