Middle East Healthcare Co. (MEAHCO), which owns and operates the Saudi German Hospital chain, reported a net profit after Zakat and tax of SAR 72.5 million in the first nine months of 2020, a 21% increase, compared to SAR 60.1 million in the year-earlier period.
The improvement was attributed to increase in revenue due to higher in-patient traffic and case mix, and lower cost of revenue.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 1,090.13 | 1,301.70 | 19.4 % |
| Gross Income | 324.35 | 439.25 | 35.4 % |
| Operating Income | 59.21 | 90.21 | 52.4 % |
| Net Income | 60.10 | 72.45 | 20.6 % |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 0.65 | 0.79 | 20.6 % |
The company’s net profit after Zakat and tax stood at SAR 34.9 million in Q3 2020, up 5% year-on-year (YoY), due to higher revenue and lower cost of revenue.
On a sequential basis, Q3 net profit jumped 113.5%.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 386.76 | 492.13 | 27.2 % |
| Gross Income | 119.96 | 171.91 | 43.3 % |
| Operating Income | 33.31 | 42.12 | 26.4 % |
| Net Income | 33.23 | 34.91 | 5.1 % |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 0.36 | 0.38 | 5.1 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 373.26 | 492.13 | 31.8 % |
| Gross Income | 120.49 | 171.91 | 42.7 % |
| Operating Income | 23.73 | 42.12 | 77.5 % |
| Net Income | 16.35 | 34.91 | 113.5 % |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 0.18 | 0.38 | 113.5 % |
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