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Middle East Healthcare Co. announces its Annual Financial Results for the Period Ending on 2022-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 2,151.74 | 1,872.62 | 14.9 | ||
| Gross Profit (Loss) | 680.01 | 608.18 | 11.81 | ||
| Operational Profit (Loss) | 140.34 | 54.24 | 158.74 | ||
| Net Profit (Loss) after Zakat and Tax | 75.18 | 17.2 | 337.09 | ||
| Total Comprehensive Income | 115.21 | 25.82 | 346.2 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 1,364.96 | 1,257.55 | 8.54 | ||
| Profit (Loss) per Share | 0.82 | 0.19 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Increase in net profit for the current year compared to the last year is due to: 1- Increase in number of patients both in outpatient and inpatient. 2- Increase in revenue due to the revised prices with key customer, accreditation and case mix 3- Increase in efficiency due to ramping up of new facilities |
| Statement of the type of external auditor's report | Unmodified opinion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | N/A |
| Reclassification of Comparison Items | N/A |
| Additional Information | During the year 2022 we opened three new healthcare facilities in Jeddah, Abha and Makkah, growing the group’s network to 8 hospitals and 2 polyclinics spread across 7 cities in the Kingdom of Saudi Arabia. Noting that the three new facilities contributed with SR 54 million negative results during the period |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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