Dallah Healthcare rolls out $183.9mln project contract

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Dallah Healthcare Company inked a contract with Youssef Marroun Contracting Company at an amount of SAR 690 million on 27 June 2024.

The listed company will establish a new hospital, spanning 45,000 square metres in the Al Arid area in Riyadh, according to a bourse disclosure.

The 24-month deal covers the construction, electromechanical, and finishing works of the project site.

Dallah Healthcare expected that the project will reflect on its financial results when it starts operating in the first quarter (Q1)of 2027.

In the January-March 2024 period, the Tadawul-listed company recorded an annual rise of 26.03% in net profit to SAR 119.30 million, compared to SAR 94.66 million.

Revenues increased by 9.40% to SAR 784.06 million in Q1-24 from SAR 716.64 million in Q1-23, while earnings per share (EPS) climbed to SAR 1.22 from SAR 0.98.