Financial Results : Saudi German Health Q1 2024 profit up 4% to SAR 51.9M

Saudi German Health Q1 2024 profit up 4% to SAR 51.9M

05/05/2024 Argaam Exclusive

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Middle East Healthcare Co. (Saudi German Health) posted a net profit rise of 4% to SAR 51.9 million in Q1 2024 from SAR 50.1 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 637.99 689.21 8.0 %
Gross Income 225.50 259.86 15.2 %
Operating Income 76.51 117.64 53.8 %
Net Income 50.12 51.94 3.6 %
Average Shares 92.04 92.04 -
EPS (Riyals) 0.54 0.56 3.6 %

This was spurred by a higher number of inpatients and outpatients, in addition to higher utilization of outpatient clinics and the ramping up of new facilities.

 

On a sequential basis, net profit jumped 42.3% from SAR 36.50 million.

 

Shareholders’ equity, no minority interest, reached SAR 1.57 billion by March 31, 2024, compared to SAR 1.41 billion in the year-earlier period.

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