RIYADH: Hospital operator Dr. Sulaiman Al Habib Group recorded a 22 percent increase in profit for the first nine months of 2022, driven by higher revenue.
Following the announcement, its board recommended distributing dividends of SR0.86 ($0.23) per share during the third quarter of 2022, according to a bourse statement.
Despite the higher profits, shares of the group started Sunday morning in red, shedding 0.33 percent to reach SR239.60, as of 10:22 a.m. Saudi time.
The company earned SR1.23 billion in profit, compared to SR993 million in the previous year.
The operator’s revenue increased 15 percent, reaching SR6 billion, compared to SR5 billion in the same period the previous year, owing to growth in the hospital segment and higher patient occupancy.
Established in 1995, HMG is a private health service provider in Saudi Arabia, with seven hospitals in the Kingdom, the UAE, and Bahrain, as well as pharmacies and other medical departments.