Saudi healthcare sector posts SAR 113.6m decline in Q1 profits

Saudi healthcare sector posts SAR 113.6m decline in Q1 profits
Mouwasat Medical Services achieved a 1.14% year-on-year rise in profits
Care
4005
5.45% 52.20 2.70
Mouwasat
4002
-2.00% 83.30 -1.70

Riyadh – Mubasher: The companies listed on the Saudi Stock Exchange (Tadawul) in the healthcare sector have registered a decrease of 31.2% or SAR 113.65 million in profits during the first three months of 2019 when compared to the same quarter last year.

According to the data conducted by Mubasher, the Tadawul-listed healthcare firms posted a profit of SAR 250.47 million in Q1-19, compared to SAR 364.12 million in Q1-18.

The decline in Q1 profits for the healthcare sector is attributed to a decrease in profits of four companies against an increase in two other firms.

The Middle East Healthcare Company (Saudi German Hospital) registered the highest decline in Q1-19 after it has reported an 83% year-on-year drop in profits.

Meanwhile, National Medical Care achieved the highest profit value during Q1, reporting a 17.1% year-on-year.

Similarly, Mouwasat Medical Services achieved a 1.14% year-on-year rise in profits during the first three months of 2019.