Riyadh, Saudi Arabia — Saudi medical services provider Dr. Sulaiman Al Habib Medical Services Group has posted a 26 percent profit jump in the first nine months of 2023 to SAR 1.52 billion ($405 million), compared to SAR 1.20 billion in the year-earlier period.
The Group reported a 15.93 percent rise year-on-year (YoY) in revenues to SAR 7.02 billion, on continued growth across the group’s operational segments.
The higher revenues were driven the hospital and pharmacy segments, due to the increase in the number of patients and inpatients occupancy, which in turn boosts the pharmacy segment’s sales, compared to the year-earlier period, Argaam reported.
Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to SAR 1.91 billion, implying an increase of 20.37 percent YoY. EBITDA margin also improved reaching 27.26 percent compared to 26.26 percent in the same period of 2022.
The net income margin rose to 21.66 percent from 19.96 percent in the first nine months of 2022. The net Income increase was spurred by the revenue growth, due to an increase in the number of patients and inpatient occupancy.
In Q3 2023, the net profit climbed 30 percent to SAR 544.8 million from SAR 420.6 million in Q3 2022.
Revenues jumped 19.03 percent year-on-year (YoY) to SAR 2.44 billion, on continued growth across the group’s operational segments, according to Argaam
The higher revenues were driven the hospital and pharmacy segments, due to the increase in the number of patients and inpatients occupancy, which in turn boosts the pharmacy segment’s sales, compared to the year-earlier period.
The net income margin rose to 22.30 percent from 20.50 percent on the improved number of patients and inpatient occupancy rates.
