Arabian International Healthcare Holding Co. (Tibbiyah) posted a 14% decline in net profit after Zakat and tax to SAR 82.3 million in 2021, compared to SAR 95.8 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 818.69 | 618.54 | (24.4 %) |
| Gross Income | 198.38 | 143.52 | (27.7 %) |
| Operating Income | 98.29 | 70.10 | (28.7 %) |
| Net Income | 95.79 | 82.31 | (14.1 %) |
| Average Shares | 20.00 | 20.00 | - |
| EPS (Riyals) | 4.79 | 4.12 | (14.1 %) |
The company attributed the profit drop to a decline in annual revenue to SAR 618.5 million, from SAR 818.7 million in 2020.
On the other hand, Tibbiyah mitigated the negative impact on its annual net profit, as it focused on operating cost efficiencies and working capital management. Tibbiyah’s net profit margins also increased to 13% in 2021, from 12% in 2020.
Shareholders' equity, excluding minority interest, saw a slight decline to SAR 332.1 million in 2021, from SAR 332.1 million in 2020.
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