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Middle East Healthcare Co. announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )

SAUDI GERMAN HEALTH 4009 0.58% 69.40 0.40
Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Sales/Revenue 436.31 350.18 24.595 406.51 7.33
Gross Profit (Loss) 146.86 101.63 44.504 148.59 -1.164
Operational Profit (Loss) 24.36 18.31 33.042 44.06 -44.711
Net Profit (Loss) after Zakat and Tax 21.18 14.59 45.167 37.47 -43.474
Total Comprehensive Income 21.18 14.59 45.167 37.47 -43.474
All figures are in (Millions) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Total Share Holders Equity (after Deducting Minority Equity) 1,543.9 1,522.76 1.388
Profit (Loss) per Share 0.23 0.16
All figures are in (Millions) Saudi Arabia, Riyals
Element List Explanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to 1- There is increase in revenue due to the increase of patient traffic in all the segments of business and increase in other income

2- Decrease in cost of revenue in percentage compared to same quarter last year.

Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to 1- Increase in cost of revenue for the current quarter compared to the previous quarter.

2- Increase in general and administrative expenses compared to previous quarter.

3- Dammam hospital just started its operation and contribute losses to the extent of 19MSR in first quarter.

4- Increase in credit loss provision compared to the previous quarter under the Covid-19 pandemic.

Basis of the External Auditor's Opinion Unmodified opinion
Reclassification of Comparison Items Certain figures of the previous year have been reclassified and regrouped to conform to the presentation for the current year presentation as per International Financial Reporting Standard 16 as endorsed in the Kingdom of Saudi Arabia applicable from 1 January 2019.
Additional Information During the current quarter, we see drop in outpatient visits in the last month of the quarter. Since the extent and duration of such impacts remain uncertain and dependent on future developments that cannot be accurately predicted at this time. For more info, please refer to Note 16 (Impact of COVID-19) on the condensed Consolidated Interim Financial Statements) in the notes accompanying the financial statements for the period ended 31 March 2020.

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