Dallah’s Q1 profit lifted by expansions, better services: CEO

Tarek Alkasabi, CEO of Dallah Healthcare Co.

Dallah Healthcare Co. posted higher revenues and net profit for Q1 2023 on expansions and improved services, CEO Tarek Alkasabi told Al-Ekhbariya TV.

Higher finance costs had a limited impact on the company’s results, as Dallah managed to reduce financing by up to SAR 37 million in Q1 2023, compared to the same period a year earlier, using its internal resources.

The company currently seeks to control financing costs to avoid any impact on its operating profit and revenue.

Alkasabi added that Dallah’s stake in Dr. Mohammad Alfagih Hospital cut the company’s losses by SAR 8 million and improved its profitability, revealing that talks are ongoing to manage new hospitals. Dallah owns an investment portfolio in the health sector.

Elsewhere, the CEO said the policies encouraging local content in the pharmaceutical industry drove expansion in Dallah Pharma. The unit comprises two units; a factory and a distribution agencies, which are witnessing growth.

The healthcare services provider posted a 15% rise in Q1 2023 net profit to SAR 94.7 million, compared to SAR 82.6 million a year earlier, Argaam reported.