Al Hammadi Company for Development and Investment reported a net profit after Zakat and tax of SAR 64.1 million for H1 2020, a 45% increase compared to SAR 44.2 million a year earlier.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 483.51 | 450.99 | (6.7 %) |
| Gross Income | 136.69 | 157.29 | 15.1 % |
| Operating Income | 58.14 | 86.99 | 49.6 % |
| Net Income | 44.18 | 64.05 | 45.0 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.28 | 0.40 | 45.0 % |
The higher net profit was backed by improved performance of Hospital Al-Nuzha branch, higher inpatient revenues, due to the increased referrals from the Ministry of Health, and a decline in some expenses and staff costs.
Moreover, a decrease in finance costs due to lower loan balances and lower lending cost also boosted the first-half figures.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 253.83 | 244.30 | (3.8 %) |
| Gross Income | 71.08 | 90.81 | 27.7 % |
| Operating Income | 30.95 | 53.15 | 71.8 % |
| Net Income | 20.01 | 39.10 | 95.4 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.13 | 0.24 | 95.4 % |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 206.69 | 244.30 | 18.2 % |
| Gross Income | 66.48 | 90.81 | 36.6 % |
| Operating Income | 33.84 | 53.15 | 57.0 % |
| Net Income | 24.94 | 39.10 | 56.8 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.16 | 0.24 | 56.8 % |
The second-quarter net profit surged 95% year-on-year to SAR 39.1 million, driven by improved performance of Hospital Al-Nuzha branch, higher inpatient revenues, and a decrease in finance costs.
When compared to the previous quarter, net profit climbed 57% on higher inpatient revenues and a decline in some expenses and staff costs.
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