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HMG records 30% spike in profit to $367m

HMG net profit margin grew to 21.52 percent in 2023 compared to 19.86 percent in 2022.
By TRENDS Desk
February 20, 2022 7:23 pm
  • The company's sales soared to SR7.25 billion, jumping 23 percent year-on-year in response to a growth in the hospital segment and higher patient occupancy
  • its board recommended the distribution of SR245 million in cash dividends to 350 million eligible shares at SR0.7 per share for the fourth quarter of the fiscal year 2021

Dr. Sulaiman Al Habib Group, a private health service provider in Saudi Arabia,  has posted a 30 percent increase in profit to SR1.37 billion ($367 million) in 2021, up from SR1.05 billion recorded in the previous year.

The company’s sales soared to SR7.25 billion, jumping 23 percent year-on-year in response to a growth in the hospital segment and higher patient occupancy, the company said in the statement.

HMG is the largest private health service provider in Saudi Arabia, with seven hospitals operational in the Kingdom, the UAE, Bahrain, and pharmacies and other medical-related divisions.

Today, its board recommended the distribution of SR245 million in cash dividends to 350 million eligible shares at SR0.7 per share for the fourth quarter of the fiscal year 2021.

 

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