‎“Saudi German Health” profits jumped 145% during Q1, to ‎SR50 mln

The Middle East Healthcare Company revealed an increase in net profit after zakat and tax in the first quarter to 50.1 million riyals, compared to 20.4 million riyals in the same quarter of last year, at a rate of 144.6%. This came after today’s announcement of the preliminary financial results for the period ending in 2023. 31-03 (three months).

The operational profit amounted to 76.5 million riyals in the first quarter, compared to 35.2 million riyals in the same quarter of the previous year, an increase of 116.8%.

And the total shareholders’ equity “without minority rights” amounted to 1.41 billion riyals in the current period, compared to 1.36 billion riyals in the same period last year, an increase of 3.6%.

Earnings per share in the current period reached 0.54 riyals, compared to 0.22 riyals in the same period last year.

The reason for the increase in net profit during the current quarter compared to the same quarter of the previous year is due to:

1- Increasing the number of patients in both the outpatient clinics and the internal department

2- High operational efficiency with the high operational rates of the new expansions of the group

The reason for the increase in the net profit for the current quarter compared to the previous quarter is also due to:

1- The increase in revenues as a result of the increase in the number of inpatients and the increase in the group’s capacity

2- High operational efficiency with the high operational rates of the new expansions of the group