Riyadh – Mubasher: Dallah Healthcare Company reported an increase in net profit by 3.6% for 2019 to SAR 145 million, compared with SAR 142 million in 2018.
The company attributed the rise in profits to an increased number of patients, as well as revenues from Dallah-Namar Hospital.
Moreover, new insurance contracts through other firms, more work volume with the Ministry of Health, and an increase in profit from investment channels helped raise the company’s annual profits, according to its statement to the Saudi Stock Exchange (Tadawul) on Thursday.
This came despite an increase in financing expenses, and provisions for credit losses last year, after a decrease in 2018, following the application of IFRS 9 for the first time.
In the fourth quarter (Q4) of 2019, profits surged by 114.8% to SAR 69.8 million, compared with SAR 32.5 million for the same period in 2018.
Meanwhile, the company’s Board of Directors has recommended the distribution of SAR 52.5 million in semiannual dividends to shareholders for the second half (H2) of the fiscal year (FY) 2019, according to a separate bourse filing.
Dividends will be distributed at SAR 0.70 per share, or 7% of the share’s par value, with the number of shares eligible for dividends standing at 75 million shares.
Eligibility of dividends will be for shareholders who own shares by the end of 22 March 2020 and are registered with the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of maturity.
