Riyadh – Mubasher: Dallah Healthcare Company posted its interim financial results for the first six months of 2019.
Net profits after zakat and tax decreased by 34.2% to SAR 50.5 million in H1-19, compared to SAR 76.8 million in H1-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Monday.
Total revenues levelled up 4.3% to SAR 607.2 million during the six-month period ended in June, from SAR 581.7 million in the same period of the previous year.
Profit per share recorded SAR 0.68 by the end of June, against SAR 1.02 in the corresponding period a year ago.
During the second quarter of 2019, Dallah’s net profits plunged by 18% year-on-year to SAR 15.3 million.
The decrease in net profits was attributed to the increase in operating cost that accompanies hiking operating levels of Namar Hospital, in addition to the rise in financing cost because of the increase of operating leverage for Dallah-Namar Hospital and increase of the company’s investments.
Meanwhile, revenues of the healthcare provider grew by 4.7% to SAR 286 million in Q2-19, versus SAR 273.1 million in Q2-18.
