Al Hammadi Co. for Development and Investment reported a net profit after Zakat and tax of SAR 100.6 million for the first nine months of 2020, a 54% increase, compared to SAR 65.4 million in the same period a year earlier.
Item | 9m 2019 | 9m 2020 | Change |
---|---|---|---|
Revenues | 703.51 | 533.59 | (24.2 %) |
Gross Income | 198.90 | 184.35 | (7.3 %) |
Operating Income | 89.99 | 84.57 | (6.0 %) |
Net Income | 65.35 | 100.61 | 54.0 % |
Average Shares | 160.00 | 160.00 | - |
EPS (Riyals) | 0.41 | 0.63 | 54.0 % |
The company attributed the increase in net profit to higher number of patient transfers from the Ministry of Health, continued improvement in the performance of Nuzha branch hospital and the increase in the operating efficiency of assets.
The healthcare provider also cited lower finance costs and staff cost, resulting from the government support for private sector companies during COVID-19 pandemic, as reasons for the profit increase.
Item | Q3 2019 | Q3 2020 | Change |
---|---|---|---|
Revenues | 220.00 | 207.85 | (5.5 %) |
Gross Income | 62.22 | 77.59 | 24.7 % |
Operating Income | 31.85 | 43.13 | 35.4 % |
Net Income | 21.17 | 36.57 | 72.7 % |
Average Shares | 160.00 | 160.00 | - |
EPS (Riyals) | 0.13 | 0.23 | 72.7 % |
Item | Q2 2020 | Q3 2020 | Change |
---|---|---|---|
Revenues | 244.30 | 207.85 | (14.9 %) |
Gross Income | 90.81 | 77.59 | (14.6 %) |
Operating Income | 53.15 | 43.13 | (18.8 %) |
Net Income | 39.10 | 36.57 | (6.5 %) |
Average Shares | 160.00 | 160.00 | - |
EPS (Riyals) | 0.24 | 0.23 | (6.5 %) |
The company reported a net profit of SAR 36.6 million for the third quarter of 2020, a 73% year-on-year (YoY) increase.
When compared to previous quarter, net profit fell 6.5% during Q3 on the increase in some items of the cost of revenue associated with operations, particularly after the outpatient operations, higher administrative expenses and booking additional provisions due to the unusual increase in the degree of uncertainty that affected accounting estimates due to market fluctuations from the circumstances imposed by the pandemic.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}