Al Hammadi Company for Development and Investment announces its Interim Financial Results for the Period Ending on 2022-03-31 ( Three Months )
Share this:
Facebook
LinkedIn
Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
---|
Sales/Revenue | 250.89 | 226.29 | 10.871 | 281.78 | -10.962 |
Gross Profit (Loss) | 96.08 | 87.41 | 9.918 | 108.53 | -11.471 |
Operational Profit (Loss) | 70.09 | 24.93 | 181.147 | 16.97 | 313.022 |
Net Profit (Loss) after Zakat and Tax | 61.96 | 35.54 | 74.338 | 10.67 | 480.693 |
Total Comprehensive Income | 63.44 | 37.25 | 70.308 | 10.86 | 484.162 |
All figures are in (Millions) Saudi Arabia, Riyals |
Element List | Current Period | Similar period for previous year | %Change |
---|
Total Share Holders Equity (after Deducting Minority Equity) | 1,674.73 | 1,675.91 | -0.07 |
Profit (Loss) per Share | 0.52 | 0.3 |
All figures are in (Millions) Saudi Arabia, Riyals |
Element List | Explanation |
---|
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The net profit for the current quarter has increased by 74.34% to reach 61.96 million Saudi riyals, compared to the net profit for the same quarter of the previous year amounted to 35.54 million Saudi riyals, with an increase in the net profit margin ratio for the current quarter to 24.7% compared to 15.71% for the same quarter of the previous year. The increase in net profit is due to the following: 1. The increase in revenues of medical services segment of Al Hammadi Nuzha and Suwaidi branch hospitals resulted from the increase in the number of outpatients and inpatients compared with the same quarter last year where the growth rate in revenues for the current quarter compared to the same quarter of the previous year reached 10.87%. 2. The decrease in the provision for credit losses added during the current quarter compared to the provision added during the same quarter last year based on the updated data related to the amounts expected to be recovered and used in the model for calculating expected credit losses in accordance with the requirements of IFRS No. (9). " |
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | The net profit of the current quarter has increased compared to the previous quarter due to the following: 1. The increase in the provision for credit losses added during the previous quarter compared to the provision added during the current quarter based on the updated data related to the amounts expected to be recovered and used in the model for calculating expected credit losses in accordance with the requirements of IFRS No. (9). 2. The impairment losses of year-end valuation for goodwill resulting from the acquisition of a subsidiary in previous years during the previous quarter amounted (9.7) million Saudi riyals. |
Statement of the type of external auditor's report | Unmodified conclusion |
Reclassification of Comparison Items | The comparative figures for the financial statements for the first and fourth quarters of 2021 have been presented in line with the reclassification of the financial statements referred to in Note No. (38) in the audited financial statements for the year ended December 31, 2021 and Note No. (18) in the condensed consolidated interim financial statements for the period ended March 31, 2022. |
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.