Al Hammadi Company for Development and Investment Co. reported a rise of 42% in net profit after Zakat and tax to SAR 35.5 million for the first quarter of 2021, from SAR 24.9 million in the year-ago period.
The profit growth was spurred by an increase in revenue from medical services and pharmaceutical products segments, backed by the higher number of outpatients and inpatients, in addition to the increase in patient referrals from the Ministry of Health.
Al Hammadi also reported an increase in the operating efficiency of assets, a decrease in finance costs and Zakat expenses.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 206.69 | 226.29 | 9.5 % |
| Gross Income | 66.48 | 87.41 | 31.5 % |
| Operating Income | 33.84 | 22.69 | (32.9 %) |
| Net Income | 24.94 | 35.54 | 42.5 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.16 | 0.22 | 42.5 % |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 230.47 | 226.29 | (1.8 %) |
| Gross Income | 68.48 | 87.41 | 27.6 % |
| Operating Income | 19.33 | 22.69 | 17.4 % |
| Net Income | 30.21 | 35.54 | 17.6 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.19 | 0.22 | 17.6 % |
When compared to Q4 2020, the company’s net profit after Zakat and tax jumped 17.6% from SAR 30.2 million.
Shareholders’ equity, excluding minority interest, grew by 5.2% to SAR 1.675 billion by the end of Q1 2021, compared to SAR 1.592 billion in the year-ago period.
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