Riyadh– Mubasher: Middle East Healthcare Company (Saudi German Hospital) generated net profit after Zakat and tax worth SAR 50.12 million in the first quarter (Q1) of 2023, a surge of 144.61% from SAR 20.49 million in Q1-22.

The earnings per share (EPS) rose to SAR 0.54 in Q1-23 from SAR 0.22 in Q1-22, according to the financial results.

The medical provider recorded revenue of SAR 637.99 million during January-March 2023, a growth of 24.29% than SAR 513.32 million in the same three months (3M) a year earlier.

On a quarterly basis, the net profits in Q1-23 were 51.15% higher than SAR 33.16 million in Q4-22, while the revenues increased by 3.24% from SAR 617.96 million.

In 2022, Saudi German Hospital registered net profit of SAR 75.18 million compared with SAR 17.20 million in 2021, whereas the revenues hit SAR 2.15 billion last year.