Sulaiman Al Habib Medical Services Company (HHMC) reported a 14% increase in second-quarter net profit, with net income increasing mainly due to higher revenues driven by growth in visitor numbers.
According to what the company revealed today, Sunday, July 28, profits reached 555 million riyals in the three-month period ending in June, compared to 487 million riyals during the comparison period last year.
As for sales, they increased by 13.2%, recording 2.57 billion riyals during the second quarter of 2024. The company explained that the growth in revenues was supported by continued growth in all of the group’s operational sectors.
The statement added: The growth in revenues for the second quarter of 2024 is mainly due to growth in both the hospital and pharmacy sectors, as a result of the increase in the number of visitors to the hospital sector and its positive impact on increasing sales in the pharmacy sector.
In a separate statement, the company revealed that the board of directors decided to distribute cash dividends to its shareholders for the second quarter, with the total amount distributed being 409.5 million riyals, the number of shares due being 350 million shares, and the share of the distribution being 1.17 riyals.
