The profits of the Middle East Health Care Company fell 42.9%, with about 12.1 million riyals in the first quarter of 2021, compared to net profit for about 21.18 million riyals in the same quarter.
According to Arab Net, Saudi German Hospital profits on a quarter of 57.6% in the first quarter of this year, compared to the net profit of 28.5 million riyals, in the fourth quarter of 2020.
The company said in a statement on Saudi trading. The decline in net profit for the first quarter of 2021, compared to the same quarter of 2020 returns to two factors, decreased due to the decline in the movement of patients as a result of a major deal, and the high cost of public and administrative revenues and expenses compared to the same quarter Of the previous year.
Saudi German Hospital revenue fell 4.1 percent in the first quarter of this year, recording SR 418.37 million, compared to SR 436.3 million in the first quarter of 2020.
The Middle East Health Care Company has announced the annual financial results for last year, achieving a net profit grew by 3.49%.
Net profit was 100.98 million riyals in 2020, compared to SR 97.6 million during 2019.
