Riyadh – Mubasher: The net profits after Zakat and tax of Middle East Healthcare Company (Saudi German Hospital) hiked by 241.91% to SAR 143.67 million in the first nine months (9M) of 2023 from SAR 42.02 million a year earlier.

The Saudi firm posted revenues amounting to SAR 1.93 billion in 9M-23, up 26.05% year-on-year (YoY) from SAR 1.53 billion, according to the interim income statements.

The earnings per share (EPS) hit SAR 1.56 in January-September 2023, an annual rise from SAR 0.46.

Financial Results for Q3-23

During the third quarter (Q3) of 2023, the listed company registered net profits after Zakat and tax worth SAR 53.30 million, marking a 379.75% leap from SAR 11.11 million in July-September 2022.

Revenues stood at SAR 671.05 million in Q3-23, higher by 30.97% YoY than SAR 512.37 million.

Quarter-on-quarter (QoQ), the Q3-23 profits grew by 32.42% from SAR 40.25 million in Q2-23, while the revenues rose by 7.48% from SAR 624.32 million.

In the three-month period that ended on 31 March 2023, Saudi German Hospital logged net profits after Zakat and tax valued at SAR 50.12 million, while the revenues reached SAR 637.99 million.