Riyadh – Mubasher: Middle East Healthcare Co (Saudi German Hospital) posted a 14.37% year-on-year decline during the fourth quarter of 2016 as compared to the same period in 2015.

Net profits decreased to SAR 87.62 million ($23.37 million) in Q4-16 from SAR 102.32 million ($27.3 million) in Q4-15, according to a bourse statement issued on Wednesday.

During the fiscal year 2016, earnings amounted to SAR 361.86 million which came 2.27% lower from SAR 390.25 million in FY15.

Revenue grew by 5.3% to total SAR 1.6 million during FY16 from SAR 1.5 million in the previous fiscal year. Thus, gross profit increased by 2.17%, while the operating profit shrank by 6.05%.