Saudi German Hospital’s profits rise in Q1-24; revenues cross $183.73mln

Reuters/Ahmed Yosri

Revenues climbed by 8.02%

Staff Writer, Mubasher

May 6, 2024

PHOTO

Riyadh – The net profits of Middle East Healthcare Company (Saudi German Hospital) amounted to SAR 51.94 million in the first quarter (Q1) of 2024.

The generated net profits were higher by 3.63% year-on-year (YoY) than SAR 50.12 million, according to the initial income statements.

Revenues climbed by 8.02% to SAR 689.21 million as of 31March 2024 from SAR 637.99 million in Q1-23, according to the interim financials.

Additionally, the earnings per share (EPS) went up to SAR 0.56 in Q1-24 from SAR 0.54 a year earlier.

On a quarterly basis, the Q1-24 net profits climbed by 42.30% from SAR 36.50 million in Q4-23, while the revenues dropped by 4.25% from SAR 719.81 million.

In 2023, Saudi German Hospital recorded an annual leap of 139.66% in net profit to SAR 180.18 million, compared to SAR 75.18 million.

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