Dr. Sulaiman Al Habib Medical Services Group reports 22.38% in net income for the first half of 2022

Dr. Sulaiman Al Habib Medical Services Group reports 22.38% in net income for the first half of 2022

Riyadh, Saudi Arabia: Dr. Sulaiman Habib Medical Services Group (“HMG”), Saudi Arabia’s largest private medical services provider, has announced its financial results for the first half of 2022.

Revenues for the first half of 2022: the revenues increased by 16.22% for the first half of 2022 reaching SAR 4,004.87 million, with an increase of SAR 558.88 million as compared to SAR 3,445.99 million in the similar period of the previous year, as a result of the growth in all group segments.

Net Income for the first half of 2022 increased by 22.38% to reach SAR 788.64 million, with an improved net income margin reaching 19.69% of revenue compared to 18.70% for the similar period of the previous year. Net Income has improved, driven by the revenue growth and the increase in the number of patients and the increase in occupancy ratios for both inpatient beds and outpatient clinics.

Dr. Sulaiman Al Habib, Chairman of the Board of Directors at HMG, commented: “We have achieved strong results in the first half of 2022 as we continue to pursue our growth strategy, underpinned by key pillars, to grow the number of patients we serve and enhance the quality of services we provide, while maintaining the