Riyadh – Mubasher: Dr. Sulaiman Al Habib Medical Services Group recorded a net profit of SAR 298.79 million in the third quarter (Q3) of the year, 50.9% more than SAR 198 million in the corresponding period in 2019.

The rise in profits was driven by growth in revenues by 32.4% yearly at SAR 1.6 billion, according to a bourse filing on Sunday.

Moreover, the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) increased by SAR 127.34 million or 47.11% in Q3-20. The EBITDA margin also improved to reach 24.49%.

In the first nine months of 2020, the profits rose by 22.9% on an annual basis, hitting SAR 737.65 million.