Financial Results : Al Hammadi net profit up 3% to SAR 24.9 mln in Q1 2020

Al Hammadi net profit up 3% to SAR 24.9 mln in Q1 2020

18/06/2020 Argaam Exclusive

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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.



Current Quarter Comparison (M)

Compared With The
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 %

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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