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Tibbiyah suffers H1 loss of $6m

Tibbiyah has attributed the poor performance to disruptions in the global supply chain, resulting in sales delays. (Tibbiyah)
By TRENDS Desk
August 29, 2022 1:20 pm
  • Tibbiyah said the poor financial performance was due to disruptions in the global supply chain, resulting in sales delays
  • The company believes its full-year performance will be better, supported by a typically stronger second half and the investments it has made in 'internal capabilities'

Riyadh, Saudi Arabia– Arabian International Healthcare Holding Company, also known as Tibbiyah, has posted a loss of $6 million during the first half of the year.

Also known as Tibbiyah, its revenues plummeted 14 percent to $58.54 million in the first half, a bourse filing shows.

Tibbiyah said the poor financial performance was due to disruptions in the global supply chain, resulting in sales delays.

“Despite the weak financial performance due to the skewed base of the prior year and supply chain issues impacting our sales cycles negatively, we are confident that our full-year performance will be positive, supported by a typically stronger second half and the investments we have made in our internal capabilities,” CEO Alaa Ameen commented.

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