Healthcare providers Dallah Holding, Mouwasat Medical Services, National Medical Care Co. (Care), and Al Hammadi saw their combined H1-2015 net profit rise six percent year-on-year to SAR 343 million.
The growth was bolstered by a 13 percent year-on-year increase in combined revenue to SAR 1.74 billion, market data compiled by Argaam showed.
Exceptional gains made by Al Hammadi and Care, which came as a result of the companies resolving debt, amounted to SAR 13 million and helped boost earnings during the period.
Excluding these gains, combined net profit would have declined two percent year-on-year in the first half.
|
Combined H1 Profit — Details |
|||
|
Change y-o-y (%) |
H1 2015 |
H1 2014 |
Item |
|
+13% |
1,742.9 |
1,536.1 |
Sales |
|
+11% |
708.4 |
639.9 |
Gross income |
|
(1%) |
40.7% |
41.7% |
Profit margin |
|
+14% |
(349.4) |
(305.2) |
Operating expenses |
|
+6% |
343.6 |
325.5 |
Net income |
The sector's gross profit margin (GPM) decreased to 40.7 percent in H1-2015, from 41.7 percent in the same period last year.
Operating expenses (OPEX) jumped 14 percent year-on-year to SAR 349 million, as Care and Mouwasat saw spending in this area increase by 34 percent and 18 percent, respectively.
Mouwasat outperformed its peers in a number of categories as it accounted for 31 percent and 33 percent of the sector's total revenue and profit, respectively.
Dallah, Mouwasat, and Al-Hammadi reported a GPM ranging between 41.8 percent and 49.5 percent. However, Care underperformed with 26.6 percent.
|
Breakdown by Company |
||||
|
Al-Hammadi |
Care |
Mouwasat |
Dallah |
Item |
|
266.8 |
447.3 |
543.2 |
485.6 |
Sales |
|
117.2 |
119.1 |
269.1 |
203.0 |
Gross income |
|
43.9% |
26.6% |
49.5% |
41.8% |
Profit margin |
|
(36.2) |
(51.2) |
(144.0) |
(118.0) |
Operating expenses |
|
77.9 |
70.0 |
112.0 |
83.7 |
Net income |
|
0.65 |
1.56 |
2.24 |
1.77 |
Earnings per share (EPS) |
|
H1 Operating Segments |
|||||
|
Al-Hammadi* |
Care |
Mouwasat |
Dallah |
Item |
Sector |
|
H1-2015 |
|||||
|
137.4 |
329.1 |
441.2 |
448.1 |
Revenue |
Hospitals |
|
62.2 |
89.2 |
241.6 |
188.8 |
Gross income |
|
|
-- |
66.1 |
102.0 |
33.2 |
Revenue |
Pharmacy |
|
-- |
20.6 |
27.5 |
11.0 |
Gross income |
|
|
-- |
52.1 |
-- |
10.6 |
Revenue |
Others |
|
-- |
9.2 |
-- |
3.2 |
Gross income |
|
|
H1-2014 |
|||||
|
129.4 |
266.1 |
394.8 |
388.5 |
Revenue |
Hospitals |
|
62.2 |
80.3 |
222.2 |
166.8 |
Gross income |
|
|
-- |
63.1 |
93.0 |
29.8 |
Revenue |
Pharmacy |
|
-- |
13.8 |
26.2 |
11.8 |
Gross income |
|
|
-- |
32.3 |
-- |
10.5 |
Revenue |
Others |
|
-- |
5.2 |
-- |
2.8 |
Gross income |
|
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