Middle East Healthcare Co. (MEAHCO), which owns and operates the Saudi German Hospital chain, reported a net profit after Zakat and tax of SAR 12.1 million for Q1 2021, a drop of 43% from SAR 21.2 million in Q1 2020.
The decline in net profit was attributed to lower revenue due to a decrease in volume of business with a key client. In addition, the firm noted an increase in cost of goods sold, and general and administrative expenses.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 436.31 | 418.37 | (4.1 %) |
| Gross Income | 146.86 | 123.16 | (16.1 %) |
| Operating Income | 24.36 | (0.04) | (100.2 %) |
| Net Income | 21.18 | 12.10 | (42.9 %) |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 0.23 | 0.13 | (42.9 %) |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 448.89 | 418.37 | (6.8 %) |
| Gross Income | 139.12 | 123.16 | (11.5 %) |
| Operating Income | 17.20 | (0.04) | (100.2 %) |
| Net Income | 9.54 | 12.10 | 26.8 % |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 0.10 | 0.13 | 26.8 % |
When compared to the previous quarter, Q1 2021 net profit after Zakat and tax slumped 57.6%.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}