Riyadh – Mubasher: Middle East Healthcare Company (Saudi German Hospital) posted a 64.8% year-on-year hike in its profits for the third quarter of 2019, recording SAR 33.23 million.
Revenues of the healthcare provider rose by 14% to SAR 386.76 million in Q3-19, compared to SAR 338.77 million in the same quarter of 2018, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Thursday.
The company ascribed the increase in revenues to the rise of patient traffic in all the segments of business and increase in other income, in addition to the decrease in general and administrative expenses compared to the same quarter last year.
For the first nine months of 2019, net profits of Saudi German Hospital fell by 57.54% to SAR 60.1 million, from SAR 141.56 million in the same period last year.
On a yearly basis, the company’s total revenues inched up by 0.9% to SAR 1.09 billion during the nine-month period ended September.
By the end of September, profit per share registered SAR 0.65.
