Saudi German Hospital’s H1 2020 profit rises 40% to SAR 38 mln

27/07/2020 Argaam Exclusive

View other reports

Share Price

Middle East Healthcare Co.
89.30
(0.90) (1.00 %)

Middle East Healthcare Co. (SAUDI GERMAN HEALTH)

More

Middle East Healthcare Co. (MEAHCO), which owns and operates the Saudi German Hospital chain, reported a net profit after Zakat and tax of SAR 37.5 million in the first half of 2020, an increase of 40% year-on-year (YoY), compared to SAR 26.9 million in the same period last year.

 

The company attributed the higher profit to increase in inpatient traffic as outpatient decreased amid COVID-19, as well as lower cost of revenue due to effective procurement and patient case mix.



Financials (M)

Item 6m 2019 6m 2020 Change‬
Revenues 703.38 809.57 15.1 %
Gross Income 204.39 267.35 30.8 %
Operating Income 25.90 48.09 85.7 %
Net Income 26.87 37.54 39.7 %
Average Shares 92.04 92.04 -
EPS (Riyals) 0.29 0.41 39.7 %

The company’s net profit after Zakat and tax rose to SAR 16.35 million in Q2 2020, rising 33.14% YoY, due to an increase in revenue from higher inpatient traffic and decrease in the cost of revenue.

 

On a quarterly basis, Q2 earnings decreased 22.8% on the higher cost of revenue and finance charges.



Current Quarter Comparison (M)

Compared With The
Item Q2 2019 Q2 2020 Change‬
Revenues 353.20 373.26 5.7 %
Gross Income 102.76 120.49 17.3 %
Operating Income 7.58 23.73 212.9 %
Net Income 12.28 16.35 33.2 %
Average Shares 92.04 92.04 -
EPS (Riyals) 0.13 0.18 33.2 %

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.