Middle East Healthcare Co. (Saudi German Hospital) reported a net profit after Zakat and tax of SAR 21.2 million for the first half of 2021, a drop of 43% from SAR 37.5 million a year earlier.
The profit decline was attributed to an increase in the cost of goods sold, higher general and administrative expenses as well as finance charges.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 809.57 | 874.94 | 8.1 % |
| Gross Income | 267.35 | 275.80 | 3.2 % |
| Operating Income | 48.09 | 20.08 | (58.2 %) |
| Net Income | 37.54 | 21.24 | (43.4 %) |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 0.41 | 0.23 | (43.4 %) |
In Q2 2021, net profit after Zakat and tax fell by 44% to SAR 9.1 million from SAR 16.3 million in the year-ago period, due to higher general and administrative expenses and increased cost of goods sold.
On a quarterly basis, SGH’s net profit after Zakat and tax decreased by 24.4% from SAR 12.1 million on lower other income and increased finance charges.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 373.26 | 456.57 | 22.3 % |
| Gross Income | 120.49 | 152.64 | 26.7 % |
| Operating Income | 23.73 | 20.12 | (15.2 %) |
| Net Income | 16.35 | 9.14 | (44.1 %) |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 0.18 | 0.10 | (44.1 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 418.37 | 456.57 | 9.1 % |
| Gross Income | 123.16 | 152.64 | 23.9 % |
| Operating Income | (0.04) | 20.12 | 51684.6 % |
| Net Income | 12.10 | 9.14 | (24.5 %) |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 0.13 | 0.10 | (24.5 %) |
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