Saudi German Hospital’s profits up to $11.2mln in 9M-22

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Riyadh – The net profits after Zakat and tax of Middle East Healthcare Company (Saudi German Hospital) jumped by 18.07% to SAR 42.02 million in the first nine months (9M) of 2022, versus SAR 35.59 million in 9M-21.

Revenues totalled SAR 1.53 billion in the January-September 2022 period, an annual growth of 11.66% from SAR 1.37 billion, according to the interim financial results.

The earnings per share (EPS) rose to SAR 0.46 in 9M-22 from SAR 0.39 in 9M-21.

During the third quarter (Q3) of 2022, Saudi German Hospital logged a net profit after Zakat and tax worth SAR 11.11 million, down 22.58% year-on-year (YoY) from SAR 14.35 million.

Meanwhile, the revenues grew by 2.73% YoY to SAR 512.37 million in Q3-22 from SAR 498.73 million.

On a quarterly basis, the Q3-22 net profits after Zakat and tax increased by 6.52% from SAR 10.43 million in Q2-22, whereas the revenues edged up by 0.84% from SAR 508.09 million.

In January-June 2022, the company posted a 45.57% YoY hike in net profit after Zakat and tax to SAR 30.92 million, compared to SAR 21.24 million.