News Details

Al Hammadi Company for Development and Investment announces its Annual Financial Results for the Period Ending on 2020-12-31

Sales/Revenue 991.81 974.06 1.822
Gross Profit (Loss) 351.84 282.62 24.492
Operational Profit (Loss) 175.88 146.54 20.021
Net Profit (Loss) after Zakat and Tax 130.83 92.99 40.692
Total Comprehensive Income 132.53 87.53 51.41
Total Share Holders Equity (after Deducting Minority Equity) 1,698.66 1,566.13 8.462
Profit (Loss) per Share 1.09 0.77
All figures are in (Millions) Saudi Arabia, Riyals
The reason of the increase (decrease) in the net profit during the current year compared to the last year is The net profit of the current year has increased compared with the last year due to the following: 1. The increase in revenues of medical services segment and the increase in occupancy rates as a result of the effects of the (Covid-19) pandemic and the increase in the number of patient transfers from the Ministry of Health. 2. The improvement in the performance of Al-Hammadi Nuzhal branch hospital and the increase in the operating efficiency of assets. 3.The decrease in operating costs of the pharmaceutical products segment as a result of the decrease in the segment's volume of operations. 4. The decrease in finance costs due to lower loans balances and lower lending cost. 5. The decrease in staff cost resulted from benefiting of government initiatives to support private sector companies during (COVID-19) pandemic.
Statement of the type of external auditor's report Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion no
Reclassification of Comparison Items Certain figures of the previous year have been reclassified to conform to the presentation for the current year.