The Middle East Healthcare Company (Saudi German Health) recorded a 44% decrease in profits to reach 9.14 million riyals in the second quarter of 2021, compared to 16.35 million riyals during the second quarter of 2020, despite an increase in revenues by 22.3% to 456.57 million riyals. /p>
According to Arab Net, the company attributed the decline in profits to the increase in the cost of sales compared to the same quarter of the previous year, which affects profitability ratios, and the increase in general and administrative expenses compared to the same quarter of the previous year.
The company's net profit declined during the first half by 43.42% to reach 21.24 million riyals, compared to 37.54 million riyals during the same period last year.
Revenues grew during that period by 8% to 874.94 million riyals.
