00:00 The first result is a decrease in Pure Health's profits.
00:04 We will discuss the details that led to the decrease in profits and the factors that caused it.
00:10 But first, let's look at some figures and clear indicators.
00:13 The profits decreased between 2022 and 2023.
00:19 We are talking about 74% of profits, which is more than 3.5 billion dirhams in 2022.
00:25 The profits decreased to 960 million dirhams in 2023.
00:29 The revenues increased between the past two years, 2023 and 2022, by 31%.
00:38 But despite that, we saw a decrease in profits.
00:42 The board recommended not to allocate profits for 2023, in comparison to these results.
00:48 Let's look at some other details in Pure Health, regarding the reasons that led to the profit decrease.
00:55 The costs increased from the first level, in terms of sales and general expenses.
01:00 Sales decreased by 81% of the sales cost.
01:05 We are talking about 13.8 billion dirhams.
01:10 General expenses decreased by 62% and the revenues decreased to 3.7 billion dirhams.
01:17 There are unrepeated gains that happened in 2022 and did not happen in 2023.
01:25 The companies were allocated 475 million dirhams by Pure Health in 2022, but not in 2023.
01:36 The income tax in 2023 was 419 million dirhams, which reduced the profits.
01:44 The profit increase in 2022 was unprecedented, with profits of more than 3.5 billion dirhams.
01:51 All these factors led to a decrease in Pure Health's profits, in the first financial results after the financial crisis.
