Riyadh: Dr. Sulaiman Al Habib Medical Services Group reported a 23.94% year-on-year (YoY) surge in net profit to SAR 2.04 billion in 2023 from SAR 1.65 billion a year earlier.

Revenues grew by 14.41% YoY to SAR 9.50 billion last year from SAR 8.31 billion, according to the annual financial results.

The earnings per share (EPS) reached SAR 5.85 in 2023 from SAR 4.72 in 2022.

The company's Chairman, Dr. Sulaiman Al Habib, said: “We continue to expand our presence across the Kingdom to provide prestigious care. During the year 2023, we have operated both Narjis and Ghadeer medical centres in Riyadh city ahead of schedule; in addition to the medical centre in Digital City, which started operation in early 2023.”

“Our hospital and medical centre projects are on track in Riyadh, Jeddah, and Kharj to be completed and launched during 2024,” he added.

Cash Dividends

The board of directors of Dr. Sulaiman Al Habib approved the distribution of SAR 402.50 million in cash dividends to the shareholders for the fourth quarter (Q4) of 2023.

The dividends are proposed to be distributed at SAR 1.15 per share, equivalent to 11.50% of the share’s par value, to 350 million eligible shares.

The eligibility date will be at the close of the trading session on 21 February 2024, while the disbursement date will be on 4 March.

During the first nine months (9M) of 2023, Dr. Sulaiman Al Habib recorded net profits after Zakat and tax of SAR 1.52 billion, 25.78% YoY higher than the year before.

The company’s board approved cash dividends valued at SAR 409.50 million, representing 11.70% of the capital, for Q3-23.

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