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Saudi German Hospital’s profits up 45% in Q1

Saudi German Hospital’s profits up 45% in Q1
Revenues soared to SAR 436.3 million in Q1
-1.11% 31.05 -0.35

Riyadh – Mubasher: Middle East Healthcare Company (Saudi German Hospital) has registered net profits after tax and zakat worth SAR 21.18 million over the first quarter (Q1) of 2020, 45.2% more than SAR 14.59 million in the same period in 2019.

Revenues surged by 24.6% to reach SAR 436.3 million in the January-March period in 2020 when compared to SAR 350.1 million, according to a stock exchange statement on Wednesday.

The company attributed the rise in profits to higher patient traffic across all business segments, an increase in other income, and a lower percentage of revenue costs.

In 2019, Saudi German Hospital posted an annual decline of 43.4% in net profits to SAR 97.57 million from SAR 172.25 million.