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.
| 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 % |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 719.81 | 689.21 | (4.3 %) |
| Gross Income | 293.96 | 259.86 | (11.6 %) |
| Operating Income | 87.15 | 117.64 | 35.0 % |
| Net Income | 36.50 | 51.94 | 42.3 % |
| Average Shares | 92.04 | 92.04 | - |
| EPS (Riyals) | 0.40 | 0.56 | 42.3 % |
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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