Riyadh –  Middle East Healthcare Company (Saudi German Hospital) has achieved net profits after Zakat and tax worth SAR 20.49 million in the first quarter (Q1) of 2022, higher by 69.33% than SAR 12.10 million in Q1-21.

During the January-March 2022 period, the revenues surged by 22.69% to SAR 513.32 million, compared to SAR 418.37 million in the year-ago period, according to the initial financial results on Sunday.

The earnings per share (EPS) settled at SAR 0.22 in Q1-22, versus SAR 0.13 in Q1-21.

On a quarterly basis, the revenues in Q1-22 increased by 2.88% from SAR 498.95 million in Q4-21. The Saudi listed company turned profitable against the SAR 18.39 million net losses incurred in Q4-21.

In 2021, Saudi German Hospital posted a 79.02% year-on-year (YoY) drop in net profit after Zakat and tax to SAR 17.20 million from SAR 81.99 million.

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