Dallah Health Profits Jump 104% at End of 2021 to SR275 mln

The net profit after zakat and tax for Dallah Healthcare Company jumped to SR275 million during the year 2021, compared to SR135 million during the year before last, at a rate of 104%.

This came after Dallah Healthcare announcement on Tuesday of the annual financial results ending on 31.12.2021 (12 months).

The operational profit during the current period amounted to SR365 million, compared to SR195 million during the same period of the previous year, a growth of 87%.

The gross profit during the current period, it amounted to SR760 million, compared to SR450 million during the same period last year, an increase of 69%.

Profits per share during the current period amounted to SR2.87, compared to SR1.53 during the same period last year.

The reason of the increase (decrease) in the net profit during the current year compared to the last year is net profit increased during the year 2021 by SR140 million, 104% compared to the previous year, due to the following:

1-The Increase in revenues by SR787 million, 60% compared to the previous year, due to:

– Acquisitions made by the company during the last quarter of the previous year.

– Increasing the number of patients, which led to an increase in occupancy rates for outpatient clinics and inpatient.

2- The gross profit margin was improved due to decrease in cost of revenue as a percentage of revenues for the current year compared to the previous year.

This is in spite of:

1) Decrease in other revenues compared to the previous year, as the year 2020 included gains from the purchase of shares in subsidiaries at an amount of SR35 million.

2) The increase in financing costs due to the financing the expansion plans of the company.

3) The increase in the company’s share in the associates losses.

The company said in a statement that certain comparative information has been reclassified to align with current year presentation for the year ended 31 December 2021.

The company wants also to draw the attention of the financial analysts and investors to send their inquiries to the company’s email: ir@dallahhealth.com in 7 days from publishing of the financial statements in order to arrange for the annual investors meeting and to send the invitation to whomever interested (virtual meeting).