Riyadh – Mubasher: Middle East Healthcare Company (Saudi German Hospital) logged net profits of SAR 21.24 million in the first half (H1) of 2021, down by 43.42% year-on-year (YoY) from SAR 37.54 million.
The profit decline was attributed to higher costs of goods as well as an increase in general and administrative expenses, the company said in a bourse disclosure on Sunday.
The revenues grew to SAR 874.94 million in the January-June period, compared to SAR 809.57 million in the year-ago period.
As for the second quarter (Q2) of 2021, Saudi German Hospital achieved net profits of SAR 9.14 million, a drop of 44% from SAR 16.35 million in Q2-20.
Quarter-on-quarter (QoQ), the company's net profits declined by 24.46% from SAR 12.1 million in Q1-21.
The revenues increased to SAR 456.57 million in the April-June period from SAR 373.26 million in the corresponding period a year earlier.
