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  • 10-03-20

    Al Hammadi Company reports net profit of SAR 93 million for fiscal year 2019

    (MENAFN) In comparison with SAR 89.8 million in 2018, Al Hammadi Company for Development and Investment reported a net income after Zakat and tax of SAR 93 million for financial year 2019, which is an increase of 4 percent yearly.


    As said in a statement by Al Hammadi Company for Development and Investment, the income increase is attributed to climb in revenues caused by the growth in outpatient visits and inpatient admissions.


    This is regardless of a rise in operating expenses, a climb in amortization expenses of Al Nuzha Hospital's properties and tools, in addition to the growth in financing charges from the application of IFRS 16.


    In fourth quarter of 2019, the company made a 56.2 percent increase in net income to stand at SAR 27.64 million.

    MENAFN1003202000450000ID1099827324

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