Riyadh – Mubasher: Dallah Healthcare Company (DHC) on Tuesday reported a 52% year-on-year decline in profits during the full-year 2018.
DHC’s net profits after calculating Zakat and Tax hit SAR 141.8 million ($37.80 million) last year, compared to SAR 295 million ($78.65 million) in 2017, according to a statement to the Saudi Stock Exchange (Tadawul).
The Saudi healthcare services provider ascribed 2018 profit decline to an increase in pre-operating and startup expenses for Dallah-Namar Hospital.
Revenues slid 3% to SAR 1.18 billion in 2018, from SAR 1.21 billion during 2017.
Operational profits slumped 53% to SAR 146.2 million last year, compared to SAR 308 million in 2017.
Earnings per share (EPS) amounted to SAR 1.89 in 2018, compared to SAR 3.93 in the previous year.
DHC’s profits levelled down 48.49% to SAR 32.5 million from October to December last year, compared to SAR 63.1 million in the prior-year period, according to data compiled by Mubasher.
By 10:48 am Saudi time, the firm’s stock fell 1.92% to SAR 66.40.
