Egypt's Cleopatra Hospitals’ profits down to over $9mln in H1-22

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Cairo – Cleopatra Hospitals Group (CHG) has gained EGP 176.47 million in its profit after income tax during the first half (H1) of 2022, down from EGP 202.01 million in the same period in 2021.

Earnings per share (EPS) for H1-22 went down to EGP 0.11 from EGP 0.12 in H1-21, according to a bourse statement on Sunday.

The company's total revenues for the six-month period ended 30 June 2022 came in at EGP 1.24 billion, a yearly drop of 3%, while comprehensive income for the January-June period in 2022 reached EGP 176.47 million, a decrease from EGP 202.01 million in the year-ago period.

As for the standalone business, the group posted EGP 118.08 million in its profit after income tax during H1-22, compared to EGP 147.52 million in H1-21.

In the second quarter (Q2) of 2022, the group’s profit after income tax totalled EGP 74.05 million, compared with EGP 94.07 million in the corresponding quarter in 2021. EPS reached EGP 0.04 in Q2-22, a drop from EGP of 0.06 in Q2-21.

In the meantime, the company’s total revenue went down by 6% annually in Q2-22 to EGP 605 million. Moreover, comprehensive income for Q2-22 recorded EGP 74.05 million, compared with EGP 94.07 million in Q2-21.

It is worth mentioning that in Q1-22, Cleopatra Hospitals achieved consolidated net profits worth EGP 102.42 million, an annual drop of 5% from EGP 107.94 million, including minority shareholders’ rights.