RIYADH: ¶¶Òõ¶ÌÊÓƵ's Dallah Healthcare boosted revenues last year but bottom line profits fell as it absorbed the costs of starting its latest hospital.
Net profit fell by about 32 percent to SR100.1 million( $26.7 million), the company said in a filing to the Tadawul stock exchange.
Overall sales gained more than 5 percent to SR1.32 billion.
Profits declined because of the anticipated start-up costs for the company's Dr. Mohammed Al Faqueeh Hospital, in which it holds about 31 percent.
The healthcare group also cited additional credit losses resulting from the economic slowdown.
The Dallah board recommended a 2.5 percent cash dividend, at SR 0.25 per share, for the second half of the fiscal year 2020, the company said in a separate filing.
Dallah profit falls on latest Saudi hospital start-up costs
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Updated 23 March 2021
Dallah profit falls on latest Saudi hospital start-up costs
- Net profit fell by about 32 percent to SR100.1 million( $26.7 million)
