Middle East Healthcare Co. (Saudi German Health) reported an over twofold increase in H1 2023 net profit to SAR 90.4 million from SAR 30.9 million in the year-earlier period.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 1,021.41 | 1,262.31 | 23.6 % |
| Gross Income | 323.79 | 454.13 | 40.3 % |
| Operating Income | 57.05 | 145.49 | 155.1 % |
| Net Income | 30.92 | 90.37 | 192.3 % |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 0.34 | 0.98 | 192.3 % |
This rise was attributed to better revenue, backed by the increased number of inpatients and improved group’s capacity. The company also reported higher operational efficiency amid the group's new expansions.
The second-quarter net profit saw a spike to SAR 40.25 million from SAR 10.43 million in Q2 2022 on a rise in the number of inpatients and outpatients, along with better operational efficiency.
The healthcare services provider’s net earnings, however, dropped by 19.7% from SAR 50.12 million in Q1 2023, hurt by lower number of working days in the second quarter because of Ramadan and Eid holidays. The company also recorded higher depreciation and finance costs.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 508.09 | 624.33 | 22.9 % |
| Gross Income | 158.77 | 228.63 | 44.0 % |
| Operating Income | 21.77 | 68.99 | 216.9 % |
| Net Income | 10.43 | 40.25 | 286.0 % |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 0.11 | 0.44 | 286.0 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 637.99 | 624.33 | (2.1 %) |
| Gross Income | 225.50 | 228.63 | 1.4 % |
| Operating Income | 76.51 | 68.99 | (9.8 %) |
| Net Income | 50.12 | 40.25 | (19.7 %) |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 0.54 | 0.44 | (19.7 %) |
Shareholders’ equity, after minority interest, reached SAR 1.45 billion by the end of the six-month period, compared to SAR 1.28 billion a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}