Dallah Healthcare H1 2022 net profit up 52% to SAR 152.1 mln; Q2 rises 46% to SAR 69.5 mln

Dallah Healthcare Co. reported a net profit, after minority interest, of SAR 152.1 million for H1 2022, a rise of 52% from SAR 100.2 million a year earlier.

The company reported a 21.1% rise year-on-year (YoY) in revenue to SAR 1.193 billion amid continued growth in operations and the number of patients along with an increase in occupancy rates in the inpatient and outpatient departments. Dallah also reported a decrease in the ratio of operating costs to operating revenues, backed by improved management of operating costs, in addition to a decline in the company's loss share from associates by SAR 1.6 million.

The second-quarter net profit climbed 46% to SAR 69.5 million, from SAR 47.54 million in Q2 2021. The profit was lifted by an 18.9% increase YoY in revenue to SAR 583.82 million amid continued growth in operations and the number of patients along with an increase in occupancy rates in the inpatient and outpatient departments. The healthcare services provider also reported a decrease in the ratio of operating costs to operating revenues.

Compared to the previous quarter, the net profit fell 15.9% from SAR 82.63 million, due to a 4.2% decline in revenue due to the seasonality of activity during Ramadan as well as the increase in the cost of Murabaha financing.

Shareholders’ equity, after minority interest, increased by 10% to SAR 2.022 billion as of June 30, 2022, from SAR 1.837 billion a year earlier.

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