Dr. Sulaiman Al Habib logs $93mln profits in Q3, to pay dividends

Revenues soared by 13% year-on-year

  
Saudi traders monitor stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020. Image used for illustrative purpose

Saudi traders monitor stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020. Image used for illustrative purpose

REUTERS/Ahmed Yosri
Riyadh –  Dr. Sulaiman Al Habib Medical Services Group registered net profits after Zakat and tax worth SAR 348.62 million during the third quarter (Q3) of 2021, an increase of 16.6% from SAR 298.79 million in Q3-20.

The net profits in Q3-21 were also higher by 7% than SAR 325.4 million in Q2.21, according to the initial financial results on Sunday.

Revenues soared by 13% year-on-year (YoY) to SAR 1.83 billion in Q3-21 from SAR 1.62 billion, and by 4.8% quarter-on-quarter (QoQ) from SAR 1.75 billion.

During the first nine months of 2021, Dr. Sulaiman Al Habib posted higher net profits by 34.6% at SAR 993.02 million from SAR 737.65 million in the January-September 2020 period.

Earnings per share stood at SAR 2.84 at the end of September 2021, compared to SAR 2.11 in the same period last year.

Revenues surged by 26.6% YoY to SAR 5.28 billion in the nine-month period this year from SAR 4.17 billion.

In a separate disclosure to Tadawul, the medical group announced a cash dividend of SAR 0.7 per share, representing 7% of the share’s par value, for Q3-21.

Dr. Sulaiman Al Habib will pay a total amount of SAR 245 million for 350 million eligible shares.

The eligibility and distribution dates have been set as 28 October and 15 November, respectively.

Source: Mubasher

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