Dallah Health Profits rise 61% during the 3Q to SR86 mln

Dallah Healthcare Company net profit after zakat and tax increased to SR86.5 million during the third quarter, compared to SR53.8 million during the same quarter of the previous year, at a rate of 60.78%.

This came after Dallah Healthcare Co. announced its interim financial results for the period ending on 2021-09-30 (nine months).

The operational profit amounted to SR69.9 million during the third quarter, compared to SR50.5 million during the same quarter of the previous year, a growth of 38.42%.

The total profit amounted to SR192.5 million during the third quarter, compared to US132.6 million during the same quarter of the previous year, an increase of 45.17%.

The net profit after zakat and tax during the current period amounted to SR191.4 million, compared to SR84.9 million during the same period of the previous year, an increase of 148.99%.

Profits per share during the current period amounted to SR2.05, compared to SR0.94 during the same period of the previous year.

Sales volume and other income increased during the current quarter compared to the same quarter of last year as a result of increasing operating levels in addition to consolidation of sales of companies with acquired controlling share. increase in net profit for the current quarter compared to the same quarter of the last year is mainly due to:

1- Increase in income of Dallah Nakheel Namar Hospitals as a result of increase in operating levels.

2- Increase in Dallah Healthcare Group’s income from companies it invested in which is consolidated their results of operations.

3- Increase in other income.

4- Posting gains from purchase of shares in subsidiaries..

This is in spite of increase in the company’s share in start-up losses form Dr. Moahemd Alfaqeesh Hospital and increase in financing expenses as a result of increase in debt portfolio.

Increase in net income during the current quarter compared to last quarter is due to:

1- Increase in operating revenues resulted from the increasing in-patient and out-patient numbers of Dallah Nakheel and Namar and the consolidating companies.

2- Posting gains from purchase of shares in subsidiaries.

Sales volume increased during the current nine months period compared to the same period of last year mainly resulted from increase in Dallah Nakheel and Namar Hospital’s revenues. The increase in net profit for the nine-months period compared to the same period of the last year is due to:

1- Increase in operating revenues resulted from the increasing in-patient and out-patient numbers of Dallah Nakheel and Namar.

2- Increase in the group’s income from the companies it invests in and consolidating with its results of operations.

3- Increase in other revenues.

4- Posting gains from purchase of shares in subsidiaries.

This is in spite of the increase in the company’s share of Start-up losses of Dr. Moahemd Alfaqeesh Hospital and increase in financing expenses as a result of increasing of debt portfolio, and, Zakat expenses as a result of increase in Zakat base.

Elements and notes of the comparatives Interim Condensed Consolidated Financial Statements have been reclassified and regrouped to meet with the International Financial Reporting Standards (IFRS) that are endorsed in the Kingdom of Saudi Arabia.

Additional Information  Earnings-per-share is calculated based on the weighted average number of standing shares amounted to 90,000,000 shares for the nine-months ended 30 September 2021 (compared to 85,512,000 shares for the nine-months 30 September 2020)

The company issued 15 million shares on 13/09/2020 to increasing the company’s capital through distribution of free shares with a ratio of 20.0% to increase the number of outstanding shares from 75 million to 90 million shares.

Number of treasury shares was excluded from the average shares outstanding which were traded out in November 2020.