According to the results of the company for the Saudi market (Tadawul) today, Tuesday, the profits for the period reached 19.2 million riyals, compared to profits of 35.2 million riyals in the first quarter of 2019. >
The company said that the decline in profits during the comparison periods is due to the decrease in the number of patients due to the Ministry of Health instructions regarding the application of infection prevention measures, and preemptive preventive measures within the highly efficient infection control policy Pursued by the company.
The company also attributed the decrease in quarterly profits to increased expenses for credit loss provision compared to the first quarter of 2019, which was low due to the settlement of late claims by a customer in the first quarter of 2019, which Allowances were previously made.
The company explained that among the reasons for the decline in profits during the first quarter of 2020 compared to the same period in 2019, an increase in pre-operating expenses of Dr. Muhammad al-Faqih Hospital, which owns the health Share it.
Dallah Health achieved revenues of 314.6 million riyals in the first quarter of this year, compared to revenues of 321.1 million riyals for the same period in 2019, a decrease of 2%.
