Dallah net profit rises 4% to SAR 80 mln in 9M 2020

10/11/2020 Argaam Exclusive

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Dallah Healthcare Co. reported a net profit after Zakat and tax of SAR 80 million for the first nine months of 2020, a 4% year-on-year (YoY) rise from SAR 77.1 million.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	908.49	912.96	0.5 %
Gross Income	320.51	306.16	(4.5 %)
Operating Income	90.30	84.90	(6.0 %)
Net Income	77.13	80.02	3.7 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.86	0.89	3.7 %

The increase was attributed to higher sales volume due to an increase in Dallah Namar Hospital’s revenues and increase in distribution and manufacturing revenues of pharmaceutical sales. The firm also noted gains in instruments at fair value by the company’s investments, dividends from investments at fair value and an increase in other income.

This was offset by an increase in the company’s share of start-up losses of Dr. Mohammed Al-Faqih Hospital and an increase in Zakat expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	301.34	350.79	16.4 %
Gross Income	107.78	132.62	23.0 %
Operating Income	30.99	50.51	63.0 %
Net Income	26.62	53.78	102.1 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.30	0.60	102.1 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	247.56	350.79	41.7 %
Gross Income	67.77	132.62	95.7 %
Operating Income	7.97	50.51	533.6 %
Net Income	6.99	53.78	669.1 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.08	0.60	669.1 %

The healthcare provider reported a net profit after Zakat and tax of SAR 54 million in Q3 2020, more than double from SAR 26.6 million it posted in the same period last year, due to higher sales volume and other income as a result of increase in operating levels.

As compared to the previous quarter, the company’s Q3 2020 net profit saw a sharp rise.

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