Financial Results : Dallah H1 2024 profit up 57% to SAR 231.1M; Q2 at SAR 111.9M

Dallah H1 2024 profit up 57% to SAR 231.1M; Q2 at SAR 111.9M

05/08/2024 Argaam Exclusive

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Dallah Healthcare Co. reported a net profit of SAR 231.1 million in H1 2024, an increase of 57% from SAR 147.7 million a year earlier.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 1,387.06 1,549.24 11.7 %
Gross Income 501.87 591.09 17.8 %
Operating Income 220.35 278.92 26.6 %
Net Income 147.67 231.14 56.5 %
Average Shares 97.68 97.68 -
EPS (Riyals) 1.51 2.37 56.5 %

The profit rise is driven by a 12% increase in revenue to SAR 1.54 billion from SAR 1.38 billion a year earlier, due to the expansion in the operational capacity and the continuing growth in the number of patients in the group’s hospitals.

 

The improvement in the performance of associates led to a profit of SAR 21 million during the period, against losses of SAR 8 million in the same period of the prior year.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 670.42 765.18 14.1 %
Gross Income 235.08 297.73 26.7 %
Operating Income 87.85 141.07 60.6 %
Net Income 53.01 111.84 111.0 %
Average Shares 97.68 97.68 -
EPS (Riyals) 0.54 1.14 111.0 %

The second-quarter net profit more than doubled to SAR 111.9 million from SAR 53 million in Q2 2023.

 

The net profit, however, dipped 6.2% from SAR 119.3 million in Q1 2024 as revenues decreased to SAR 756 million on seasonal factors.

Shareholders’ equity, after minority interest, rose to SAR 3.37 billion as of June 30, 2024, from SAR 3.13 billion a year earlier.

 

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