Saudi German Hospital completes 66% of Dammam hospital

Begun on 7 December 2016, the construction work of the new facility is forecast to be finished on 6 June 2019

  
Image used for illustrative purpose. Nurses wheel a patient in the emergency department at Al-Noor Specialist Hospital in Mecca September 30, 2014.

Image used for illustrative purpose. Nurses wheel a patient in the emergency department at Al-Noor Specialist Hospital in Mecca September 30, 2014.

REUTERS/ Muhammad Hamed

RiyadhSaudi Arabia-based Middle East Healthcare Company, known as (Saudi German Hospital), on Wednesday said it has completed about 66% of establishing its facility in Dammam.

Begun on 7 December 2016, the construction work of the new facility is forecast to be finished on 6 June 2019, according to a statement to the Saudi Stock Exchange (Tadawul) on Sunday.

In August 2018, Saudi German Hospital unveiled finishing around 38% of establishing its Dammam’s facility.

The Saudi healthcare services provider last reported a 68.9% year-on-year decline in its net profit after calculating Zakat and Tax plunged in the third quarter of 2018, reaching SAR 20.16 million, compared to SAR 64.88 million.

From January to September 2018, the firm’s net profits after calculating Zakat and Tax tumbled 40.2% to SAR 141.56 million, against SAR 236.8 million in the year-ago period.

Saudi German Hospital’s stock levelled down 0.94% to close Wednesday’s trading session at SAR 31.60.

 

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