Dallah Healthcare profit growth driven by expansion plan: Chairman

Tariq Al-Qassabai, Chairman of Dallah Healthcare Co.

Dallah Healthcare Co.'s profit growth was boosted by the expansion plan for Riyadh region, CNBC Arabia TV reported, citing Chairman Tariq Al-Qassabai.

He added that the healthcare provider currently owns four hospitals in the Saudi capital, noting that these expansions increased the number of patients and revenue by 75%.

Al-Qassabai expected COVID-19 repercussions to ease gradually, as shown in the daily figures announced by the Ministry of Health, which is a positive indicator.

The Chairman said the company focuses on acquisitions as part of its expansion plan. "We are currently studying opportunities, which will be announced in due course."

The renovation of the main Dallah Alnakheel hospital will add a significant expansion to the emergency department to fulfill demand. The renovation is expected to end in late September.

"The renovation will be carried out in two phases, and each phase will include 65 beds," Al-Qassabai said.

Dallah Healthcare Co. reported a net profit after Zakat and tax of SAR 99.9 million for H1 2021, a significant rise from SAR 26.2 million in the same period last year. The second-quarter net profit soared to SAR 47.3 million from SAR 7 million in Q2 2020, Argaam reported.