Riyadh – Mubasher: Dallah Healthcare Company (DHC) on Sunday reported a 73.29% decrease in net profits for the second quarter of 2018, compared to the year-ago period.
DHC’s profits fell to SAR 18.7 million during Q2-18, from SAR 70 million in Q2-17, according to a statement to the Saudi Stock Exchange (Tadawul).
Quarter-on-quarter, profits slid 67.81% during the period between April and June, from SAR 58.1 million.
The Saudi healthcare services provider attributed the second-quarter profit decline to a drop in revenues, coupled with higher financing, revenues, administrative, selling, and marketing expenses.
Revenues fell 5.5% to SAR 273.1 million during Q2-18, from SAR 288.2 million in the same period a year ago.
At the level of the first six months of 2018, DHC’s profits slumped 50.45% to SAR 76.8 million, compared to SAR 155 million during H1-17.
Revenues levelled down 1.6%, reaching SAR 581 million in the January-June period of this year, compared to SAR 591 million during the prior-year period.
By 12:26 pm Saudi time, the stock slid 9.98%, reaching SAR 79.40.
