Financial Results : Sulaiman Al Habib’s net profit up 22% to SAR 788.6 mln in H1 2022; Q2 at SAR 398.1 mln

Sulaiman Al Habib’s net profit up 22% to SAR 788.6 mln in H1 2022; Q2 at SAR 398.1 mln

07/08/2022 Argaam Exclusive

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Dr. Sulaiman Al Habib Medical Services Group (HMG) posted a 22% rise in H1 2022 net profit after Zakat and tax to SAR 788.6 million, from SAR 644.4 million in the year-earlier period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 3,446.00 4,004.87 16.2 %
Gross Income 1,100.44 1,329.44 20.8 %
Operating Income 689.36 836.84 21.4 %
Net Income 644.40 788.64 22.4 %
Average Shares 350.00 350.00 -
EPS (Riyals) 1.84 2.25 22.4 %

The net profit was spurred by a 16.22% year-on-year (YoY) rise in revenue to SAR 4.004 billion amid continued growth in all segments. The revenue growth was primarily bolstered by the hospital segment, due to the increase in the number of patients and inpatient occupancy. This growth reflected positively on the pharmacy segment sales on an annual basis.

 

In Q2 2022, net profit after Zakat and tax climbed 22% to SAR 398.13 million from SAR 325.40 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 1,751.21 2,014.01 15.0 %
Gross Income 551.02 670.88 21.8 %
Operating Income 339.73 414.75 22.1 %
Net Income 325.40 398.13 22.4 %
Average Shares 350.00 350.00 -
EPS (Riyals) 0.93 1.14 22.4 %

When compared to Q1 2022, net profit grew by 2% from SAR 390.51 million.

 

Shareholders’ equity, after minority interest, rose 9.75% to SAR 5.593 billion as of June 30, 2022, from SAR 5.096 billion in the corresponding period last year

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