Naba Alsaha reports increase in H1 2022 net profit

Logo of Naba Alsaha Medical Services Company

Naba Alsaha Medical Services Company, which operates in medical services provision through Alzahra General Hospital and Manarat Al Haramain Pharmacy, clarified that its net profits during the first half of 2022 have increased by 23.6% compared to the first half of 2021. The company’s operating profit has also increased during the first half of the year by 26.6% compared to the same period of the previous year. This is due to the growth of the company’s revenues during the first half of 2022 by 12.6% compared to its revenues during the same period of the previous year.

Additionally, the SAR 7 million growth of revenues is due to an increase in inpatient revenues from SAR 38.2 million in the 1st half of 2021 to SAR 42.2 million in the 1st half of 2022, with a total increase of SAR 4 million in addition to another increase in outpatient revenues from SAR 17.7 million in the 1st half of 2021 to SAR 20.7 million in the 1st half of 2022, with a total increase of SAR 3 million.

It is worth mentioning that the company increased Alzahra General Hospital's capacity from 80 beds to 125 beds during 2020, resulting in an increase of company revenues by 39% to reach 115.7 million Saudi Riyals, compared to 2019 revenues.

Al Zahra General Hospital provides medical care services including general and endoscopic surgery, cardiology, ophthalmology, adult intensive care, extended care, orthopedics, urology, internal medicine, endoscopy, pediatrics and neonatology, pediatric and neonatal intensive care, respiratory therapy, ENT, neurosurgery, physical therapy, obstetrics, gynecology, radiology, and emergency.

In line with its vision to expand in the medical care sector, Naba Alsaha is working on opening an integrated hospital in Riyadh, with a capacity of 180 beds. The land on which the hospital will be built is already purchased, and the Ministry of Health initial license has been obtained to build the hospital. The company is currently working on completing the studies of the project that will be one of the first achievements of its future vision.