Al Hammadi Company for Development and Investment announces the interim financial results for the period ending on 30-09-2017 (Nine Months)
| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) | 23.58 | 20.73 | 13.75 | 25.66 | -8.11 |
| Gross profit (loss) | 58.35 | 56.47 | 3.33 | 58.15 | 0.34 |
| Operational profit (loss) | 34.33 | 26.53 | 29.4 | 33.85 | 1.42 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) | 77.21 | 62.47 | 23.6 |
| Gross profit (loss) | 178.52 | 168.78 | 5.77 |
| Operational profit (loss) | 102.83 | 83.39 | 23.31 |
| Earning or loss per share, Riyals | 0.64 | 0.52 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The increase in the net income, gross profit and operating profit in the current quarter compared to the same quarter last year is attributable to the increase in net revenue by 15% as a result of the increase in the number of patients and inpatient nights in addition to the optimization of the contractual terms with some customers. It is worth mentioning that Al Hammadi Hospital Olaya branch was closed during the period 7 Feb to 7 Aug last year because of the fire incident. |
| Reasons of increase (decrease) for period compared with same period last year | The increase in the net income, gross profit and operating profit in the current period compared to the same period last year is attributable to the increase in net revenue by 23% as a result of the increase in the number of patients and inpatient nights in addition to the optimization of the contractual terms with some customers. It is worth mentioning that Al Hammadi Hospital Olaya branch was closed during the period 7 Feb to 7 Aug last year because of the fire incident. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The decrease in the net income in the current quarter compared to the previous quarter this year is attributable to the decrease in the revenues by 8% as a result of the seasonal impact represented by the summer vacations for citizens and foreigners which resulted in decreasing the number of patients compared to the previous quarter. |
| Reclassifications in quarterly financial results | Certain figures of the previous year have been restated and reclassified to conform to the presentation for the current year presentation as per IFRS. For more information, refer to note (4) First-time adoption of IFRS of Condensed Interim Consolidated Financial Statements for the period ended 30-09-2017. |
| Other notes | 1- The current quarter revenue is SR 163.0 million compared to SR 141.4 million in the same quarter last year with increase of 15% and SR 176.7 million in the previous quarter this year with decrease of 8%. 2- The current period revenue is SR 519.9 million compared to SR 423.6 million in the same period last year with increase of 23%. 3- The other comprehensive income for the current quarter is SR 23.2 million compared to SR 20.4 million for the same quarter last year with increase of 14% and compared to SR 23.5 million for the previous quarter this year with decrease of 1%. 4- The other comprehensive income of the current period is SR 76.5 million compared to SR 61.6 million in the same period last year with increase of 24%. 5- Total shareholders equity as at the end of the current period is SR 1,446 million compared to SR 1,359 million as at the end of the same period last year with increase of 6%. Please note that there is no minority interest (non-controlling interest). |
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