Riyadh – Mubasher: Middle East Healthcare Company, known as Saudi German Hospital (SGH), posted its interim financial results for the second quarter of 2019.

Net profits after zakat and tax plunged by 64.1% to SAR 12.28 million in Q2-19, compared to SAR 34.27 million in Q2-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Wednesday.

Total revenues inched up by 2.04% to SAR 353.2 million during the three-month period between April and June, from SAR 346.13 million in the same period of the prior year.

SGH noted that there is a marginal increase in revenue due to the minimal increase in patient traffic.

For the first half of 2019, net profits of the Saudi healthcare provider levelled down by 77.8% to SAR 26.87 million, versus SAR 121.4 million in H1-18.

The company generated SAR 703.38 million in H1-19, down 5% from SAR 741.24 million in the same period a year ago.

Profit per share recorded SAR 0.29 by the end of June, against SAR 1.32 in the corresponding period of 2018.