The Clap
The net profits of “Dr. Sulaiman Al Habib Medical Services Group” (4013) rose by 12.6% on an annual basis during the first quarter of the current year, totaling approximately 551 million riyals.
Details
Sulaiman Al Habib, a regional leader in healthcare and medical solutions, attributed the quarterly profit increase to growth in its revenues and patient numbers.
So What
Revenues in the current quarter increased by 9.3% on an annual basis, reaching around 2.5 billion riyals.
This is due to growth in both the hospital and pharmacy sectors, driven by an increase in hospital admissions, which contributed to increased sales in the group’s pharmacies.
It’s worth mentioning that “Sulaiman Al Habib” provides a wide range of medical services covering various health conditions in Saudi Arabia, the UAE, and Bahrain.
Some Context
Earnings per share in the current period jumped to 1.57 riyals, compared to 1.4 riyals in the first quarter of the previous year.
