Riyadh – Mubasher: Dallah Healthcare Company announced an increase of 29.39% in net profits for the second quarter of 2017, compared to the same quarter in 2016.
Earnings amounted to SAR 70 million in Q2-17, compared to SAR 54.1 million in the same period last year, according to a filing to the Saudi Stock Exchange (Tadawul) on Tuesday.
Quarter-on-quarter, net profits decreased by 17.65%.
The reason behind the rise in net profits during Q2-17 can be attributed to the significant decrease in general, administrative, and marketing expenses, due to the company's strategy of cost saving, the company added.
It can also be attributed to the improvement of some contractual services terms, and an increase in the number of medical procedures, which was positively reflected in the company's profitability and its operating efficiency, according to the statement.
The filing also indicated a “decrease in zakat expenses as a result of a decrease in the zakat base.”
The Saudi company’s profits increased to SAR 155 million during the first six months of 2017, compared to SAR 112.2 million during the same period in 2016, up 38.15%.
Dallah’s financial results in Q1-17 showed an increase in net profits by 46.3% to SAR 85 million, versus SAR 58.1 million in Q1-16.
The company’s stock closed slightly down at 0.02% to SAR 110 on Monday.
