Al Hammadi Holding reported a net profit of SAR 64 million for Q1 2023, a decline of 21% from SAR 81 million a year earlier.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 298.60 | 277.04 | (7.2 %) |
| Gross Income | 120.20 | 91.06 | (24.2 %) |
| Operating Income | 87.24 | 68.17 | (21.9 %) |
| Net Income | 81.42 | 64.04 | (21.3 %) |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.51 | 0.40 | (21.3 %) |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 303.68 | 277.04 | (8.8 %) |
| Gross Income | 106.45 | 91.06 | (14.5 %) |
| Operating Income | 59.10 | 68.17 | 15.3 % |
| Net Income | 65.19 | 64.04 | (1.8 %) |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.41 | 0.40 | (1.8 %) |
The annual profit decline was attributed to a 7.2% revenue drop and higher costs due to increase in medical staff costs owing to yearly raises and new hires to staff Al Hammadi’s capacity expansions and new service offerings.
The healthcare services provider’s Q1 2024 net profit fell 1.8% from SAR 65.19 million in the previous quarter.
Shareholders’ equity, no minority interest, increased to SAR 1.85 billion by the end of Q1 2024, from SAR 1.73 billion a year earlier.
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