Dallah Healthcare Co. announces the annual financial results for the period ending on 31-12-2016
| Element | Current year | Previous year | % Change |
|---|---|---|---|
| Net profit (loss) | 225.8 | 165.1 | 36.77 |
| Earning or loss per share, Riyals | 3.83 | 2.8 | - |
| Gross profit (loss) | 536.8 | 407.1 | 31.86 |
| Operational profit (loss) | 232.1 | 170.4 | 36.21 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of annual financial results | Increase in net profit for the current year compared to last year is due to the increase in number of inpatients and outpatients and, opening and operating of the North-Clinics Building with improvement of some contractual terms for services, which lead to increase in overall operating efficiency and positively reflected in the company's profitability. This is in addition to the increase in some direct expenses and general and admin expenses as a result of increase in business volume in addition to additional provisions estimated against the decline in value of intangible assets, collectability and inventories. Other revenues increased after realizing of gains of sale of some investments. Financial charges declined as a result of capitalizing some charges relating to projects. Zakat expenses increased this year as a result of the increase in work volume that resulted increase in Zakat base accordingly. |
| Reclassifications in annual financial results | Some of the comparative figures of the last year 2015 have been reclassified to match the reclassification of the current year 2016. |
| Other notes | 1- Sales for year ended 31 December, 2016 amounted to SR 1,162.8m compared to the same period last year of SR 985.4m, with an increase of 18%. 2- The total shareholders' equity (no minority interests) at 31 December, 2016 amounted to SR 1511.2m compared to SR 1393.0m at 31 December, 2015, an increase of 8.5%. 3- According to SOCPA, the earnings per share for the current periods and the comparative periods were calculated on the basis of the new number of shares of the company 59 million shares post the increase in capital approved by the Extraordinary General Assembly of the company on 12-10-2015. |
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