The financial statements of Dallah Health Services showed a decline in the company's profits in the first half of the current year by 48.1% compared to the results of the same period last year.
According to the company's results for the Saudi market (Tadawul) today, Tuesday, the profits for the period amounted to 26.2 million riyals, compared to the profits of the first half of 2019 of 50.5 million riyals.
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The company said in a statement to the Stock Exchange that the decline in profits during the comparison periods is due to several factors, most notably the increase in pre-operating expenses of (Muhammad Al-Faqih) Hospital in which the company has a stake. / p>
The company also attributed the decline in profits to an increase in zakat expenses compared to the same period last year, which was low to reflect adjustments to zakat provision in the first half of 2019 against the actual zakat paid .
The company also applies infection prevention measures, proactive preventive measures and social distancing within the company's highly efficient infection control policy, in addition to implementing curfew measures in Riyadh, which is why It resulted in a drastically reduced occupancy rate and consequently lower revenue and operating profit as a result.
The company recorded profits of 7 million riyals in the second quarter of this year, compared to profits of 15.3 million riyals for the same period in 2019, a decline of 19.2%.
(Amazon Fun Knowledge)
