Saudi’s Sulaiman Al Habib records higher H1 net profits

Saudi Arabia’s Dr. Sulaiman Al Habib Medical Services Group recorded a 23.79 percent rise in net profit to 976.24 million Saudi Riyals during the first half (H1) of 2023, the company reported on Monday.

The net profits after Zakat and tax went up from 788.64 million riyals recorded in H1-2022.

According to the interim financial results, the earnings per share (EPS) soared to a value of 2.79 riyals at the end of June 2023, up from 2.25 riyals during the same period last year.

The group also made 4.57 billion riyals in revenues during the January-June 2023 period.

The revenues went up by 14.34 percent from 4 billion riyals in the 2022 corresponding six months period.

Dr. Sulaiman Al Habib attributed the increase in net profits to the rise in revenue which was driven by an increase in hospital and pharmacy segments.