Profits of “Sulaiman Al Habib” grow in the third quarter by 20.6% to 421 million riyals

Dr. Sulaiman Al Habib Group net profit for medical services in the third quarter of 2022 increased by 20.65% to about 420.6 million riyals, after zakat and taxes, compared to profits of about 348, 6 million riyals in the same quarter of 2021.

Profits of Sulaiman Al Habib increased by 5.65% in the third quarter of 2022, compared to a net profit of approximately 398.1 million riyals in the second quarter of 2022.

The company stated in a statement on “Tadawul Saudi”, today, Sunday, that the increase in net profits in the third quarter of 2022, on an annual basis, is due to an increase in revenues of 11.75% to reach 2.05 billion riyals , an increase of 215.84 million riyals, compared to approximately 1.84 billion riyals in the same quarter of the previous year, due to continued growth in all operating segments of the group.

It attributed the revenue growth in the third quarter of 2022 primarily to the hospital sector due to the growth in the number of auditors as well as to the increase in occupancy rates in the inpatient wards, and pharmacy sector sales increased compared to the same quarter of the previous year due to the growth in the number of auditors.

During the first nine months of 2022, the net profit of “Suleiman Al Habib” increased by 21.77% to about 1.209 billion riyals after zakat and taxes, compared to 993.02 million riyals, profits in the same period of 2021.

Dividend

In a related context, Dr. Sulaiman Al Habib Medical Services Group announced the Board of Directors’ recommendation to distribute dividends in cash to shareholders for the third quarter of fiscal 2022, with a total of 301 million riyals for the number of shares entitled to dividends of 350 million shares.

The company stated in a statement on “Saudi Tadawul” that the distribution share of the distribution is 0.86 riyals per share, with a distribution ratio of 8.6% to the nominal value of the share.

The eligibility date is the end of trading Thursday 27 October 2022 and the distribution date is 14 November 2022.

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