Profits of Dr. Sulaiman Al Habib Medical Services Group jumped about 30% during the third quarter of this year to 544.8 million riyals ($125 million), better than expectations of 520 million riyals.
This jump in quarterly profits was supported by a 19% growth in revenues to reach 2.44 billion riyals, as a result of continued growth in the group’s operational sectors, according to what was stated in a company disclosure today, Sunday, on the main Saudi stock market’s Tadawul website.
The company said in its disclosure that its revenues grew in both the hospital and pharmacy sectors, as a result of the increase in the number of visitors, as well as the increase in occupancy rates in the hospitalization departments and its positive impact on increasing the sales of the pharmacy sector.
Increased demand for medical services raises Sulaiman Al Habib Saudi Arabia’s profits by 20% in 2022
During the first nine months of 2023, the group’s profits grew 26% compared to the corresponding period last year to reach 1.5 billion riyals ($400 million).
Distributions
The Group's Board of Directors decided to distribute cash dividends to shareholders for the third quarter of the current year at the rate of 1.17 riyals per share, with a total value of 409.5 million riyals, i.e. an increase of 17% over the distributions of the previous quarter, and an increase of 36% over the distributions of the similar period of the previous year, noting that the eligibility date For third quarter distributions, Thursday, November 2nd, and the distribution date is November 20th.
