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Middle East Healthcare Co. announces its Interim Financial Results for the Period Ending on 2022-06-30

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 508.09456.5711.28513.32-1.02
Gross Profit (Loss) 158.77152.644.01165.02-3.79
Operational Profit (Loss) 21.7719.6410.8535.28-38.29
Net Profit (Loss) after Zakat and Tax 10.439.1414.1120.49-49.1
Total Comprehensive Income 10.389.1413.5720.49-49.34
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 1,021.41874.9416.74
Gross Profit (Loss) 323.79275.817.4
Operational Profit (Loss) 57.0537.1353.65
Net Profit (Loss) after Zakat and Tax 30.9221.2445.57
Total Comprehensive Income 30.8821.2445.39
Total Share Holders Equity (after Deducting Minority Equity) 1,281.341,252.972.26
Profit (Loss) per Share 0.340.23
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is Increase in net profit for the current quarter compared to the same quarter of the last year is due to:

1- Last year there was decease in volume of business with one of key client which is recovered back. Dammam Hospital is also in showing progress in ramping up.

2- Due to change in pricing and case mix.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is Decrease in net profit for the current quarter compared to the previous quarter is due to:

1- Due to Ramadan and Eid holidays

2- Due to initial running cost of two new healthcare facilities opened Hai Jama in Jeddah and Abha Clinics in Aseer. Also Increase in Selling and Marketing expenses compared to previous quarter.

The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is Increase in net profit for the current six months period compared to the same period of last year is due to:

1- There is increase in revenue due to the revised prices with key customer.

2- Due to change in pricing and case mix.

Statement of the type of external auditor's report Unmodified conclusion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion N/A
Reclassification of Comparison Items N/A
Additional Information Hail shareholding of Middle East Healthcare Company (MEAHCO) is increased from 47% to 53.89% by having more investment in the business.

Two new healthcare facilities are opened Hai Jama in Jeddah and Abha Clinics in Aseer

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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