Al Hammadi Company for Development and Investment (Al Hammadi) reported a net profit after Zakat and tax of SAR 24.9 million for the first quarter of 2020, a 3% year-on-year (YoY) increase, compared to SAR 24.2 million in the same period last year.
The increase in net profit was attributed to higher medical services revenues, lower administrative expenses and lower finance costs due to lower lending cost.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 229.68 | 206.69 | (10.0 %) |
| Gross Income | 65.60 | 66.48 | 1.3 % |
| Operating Income | 27.20 | 33.84 | 24.4 % |
| Net Income | 24.17 | 24.94 | 3.2 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.15 | 0.16 | 3.2 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 270.55 | 206.69 | (23.6 %) |
| Gross Income | 83.72 | 66.48 | (20.6 %) |
| Operating Income | 39.60 | 33.84 | (14.5 %) |
| Net Income | 27.65 | 24.94 | (9.8 %) |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.17 | 0.16 | (9.8 %) |
When compared to the previous quarter, the company’s net profit fell 9.8% due to lower number of patients’ admissions and visits as well as lower pharmaceutical sales.
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