Riyadh-Mubasher: Middle East Healthcare Company (MEAHCO) registered a fall of 16% in the second quarter’s profits to SAR 77.02 million ($20.55 million) as compared to SAR 91.97 million ($24.5 million) in Q2-15.
MEAHCO, which owns Saudi German Hospitals, posted a decline of 7.6% in profits of the first half to SAR 182.22 million versus SAR 197.18 million in H1-15, according to a bourse statement issued on Sunday.
The decline in earnings was due to a growth in expenses of sales which resulted from an increase in provisions of rejected bills as well as bad debts.
