Dr. Sulaiman Al Habib’s profits reach SAR 1.2bn in 9M-22; dividends proposed

Dr. Sulaiman Al Habib’s profits reach SAR 1.2bn in 9M-22; dividends proposed

Riyadh – Mubasher: Dr. Sulaiman Al Habib Medical Services Group witnessed a 21.77% surge in net profit after Zakat and tax to SAR 1.20 billion during the first nine months (9M) of 2022, versus SAR 993.02 million in 9M-21.

Revenues totalled SAR 6.05 billion in the January-September 2022 period, a jump of 14.67% from SAR 5.28 billion during the same period a year earlier, according to the interim financial results.

Furthermore, the earnings per share (EPS) stood at SAR 3.46 in 9M-22, compared to SAR 2.84 in 9M-21.

During the third quarter (Q3) of 2022, the healthcare service provider logged net profits after Zakat and tax worth SAR 420.62 million, up 20.65% year-on-year (YoY) from SAR 348.62 million.

The revenues soared by 11.75% to SAR 2.05 billion in Q3-22 from SAR 1.83 billion in Q3-21.

On a quarterly basis, the net profits after Zakat and tax in Q3-22 grew by 5.65% from SAR 398.13 million in Q2-22, while the revenues went up by 1.90% from SAR 2.01 billion.

In a separate bourse filing, the company said its board recommended a cash dividend distribution worth SAR 301 million for Q3-22. The Saudi firm will disburse SAR 0.86 per share to its shareholders, representing 8.60% of the share’s