Dr. Sulaiman Al Habib’s profit surpasses $266mln in H1-24; dividends approved

PHOTO

Riyadh – Dr. Sulaiman Al Habib Medical Services Group posted a 13.28% year-on-year (YoY) growth in net profit to SAR 1.10 billion during the first half (H1) of 2024 from SAR 976.24 million.

The company’s revenue grew by 11.26% YoY to SAR 5.09 billion in H1-24 from SAR 4.57 billion in H1-23, according to interim financial results.

The earnings per share (EPS) reached SAR 3.16 from January until the end of June, up from SAR 2.79 in the corresponding period a year earlier.

Second Quarter

During the second quarter (Q2) of 2024, Dr. Sulaiman Al Habib’s net profit increased by 13.97% YoY to SAR 555.03 million from SAR 486.97 million.

Sales rose by 13.26% YoY to SAR 2.57 billion in Q2-24 from SAR 2.27 billion.

Quarter-on-quarter (QoQ), the company’s net profit edged higher by 0.74% in Q2-24 from SAR 550.95 million in previous quarter, while sales went up by 2.07% from SAR 2.52 billion.

Cash Dividends

The board of Dr. Sulaiman Al Habib approved on 27 July 2024 the distribution of SAR 409.50 million, or SAR 1.17 per share, in cash dividends for Q2-24.

Dividends are set to be paid on 19 August for 350 million shares eligible until 1 August.

It is worth noting that Dr. Sulaiman Al Habib recorded a 12.60% YoY growth in net profit to SAR 550.95 million in Q1-24 from SAR 489.27 million.