TIBBIYAH Records Losses of SR20.6 mln during H1

The Arabian International Healthcare Holding Company (TIBBIYAH) recorded a net loss after zakat and tax in the first half of SR20.6 million, compared to a profit of SR5.09 million in the same period last year.

This came after announcing on Monday the preliminary financial results for the period ending on 30.06.2022 (six months).

The operational loss amounted to SR10.09 million in the first half, compared to a profit of SR17.6 million in the same period of the previous year.

The gross shareholders’ equity “without minority rights” amounted to SR252.7 million in the 6th period, compared to SR254.8 million in the same period last year, a decrease of 0.84%.

The loss per share in the current period amounted to SR1.03, compared to a profit of SR0.25 in the same period last year.

Increase (Decrease) in net profit for current period compared to previous period is attributed to:

The Decrease in revenues and profitability is due to:

1. Delayed sales in H2’22 due to global supply chain disruption
2. Higher profitability Covid-19 related sales in H1’21
3. Investment in human capital to support TIBBIYAH ambitious growth strategy
4. Please refer to the attached file which contains detailed explanation