The quarterly profits of the Middle East Saudi German Healthcare Company recorded a 58.8% decline, after zakat and tax, to 14.3 million riyals in the third quarter of 2021, compared to 34.9 million riyals in the corresponding period of last year.
According to Arabia Net, on a quarterly basis, profits increased by 57%, compared to 9 million riyals in the previous quarter.
During the first nine months of 2021, profits after zakat and tax declined 50.8% to 35.6 million riyals, compared to 72.4 million riyals, in the corresponding period of 2020.
The company said that the reason for the decrease in net profit for the current quarter compared to the same quarter of the previous year is due to the increase in the cost of sales compared to the same quarter of the previous year, which affects the profit rates
Administrative and general expenses also increased compared to the same quarter of the previous year.
