Al Hammadi Holding reported a net profit of SAR 81.4 million for Q1 2023, a rise of 31% from SAR 62 million a year earlier.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 250.89 | 298.60 | 19.0 % |
| Gross Income | 96.08 | 120.41 | 25.3 % |
| Operating Income | 65.16 | 87.24 | 33.9 % |
| Net Income | 61.96 | 81.42 | 31.4 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.39 | 0.51 | 31.4 % |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 342.64 | 298.60 | (12.9 %) |
| Gross Income | 131.00 | 120.41 | (8.1 %) |
| Operating Income | 75.30 | 87.24 | 15.9 % |
| Net Income | 73.17 | 81.42 | 11.3 % |
| Average Shares | 160.00 | 160.00 | - |
| EPS (Riyals) | 0.46 | 0.51 | 11.3 % |
Revenue rose 19% year-on-year (YoY) to SAR 298.6 million in Q1 2023, supported by a 22.2% YoY increase in revenue generated from the medical services segment, in addition to a 7.8% YoY rise in the pharmaceutical product segment on higher sales of Al Hammadi’s in-house pharmacies.
Gross profit rose 25.3% YoY to SAR 120.4 million during Q1 2023, and the expected credit loss provision declined to SAR 5.9 million in the three-month period from SAR 7.5 million a year earlier.
The healthcare services provider’s Q1 2023 net profit rose 11.3% from SAR 73.17 million in the previous quarter.
Shareholders’ equity, no minority interest, increased to SAR 1.73 billion by the end of Q1 2023, from SAR 1.67 billion a year earlier.
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