Private Saudi medical group Sulaiman Al Habib sees 35% profit rise

DUBAI: Saudi Arabia’s biggest private medical group Sulaiman Al Habib reported a net profit of SR993 million ($ 264 million) for the first nine months of 2021, an increase of 35 percent from a year earlier.

On a quarterly basis, net profit after Zakat and tax grew by 17 percent in Q3 2021, compared to the same period last year reaching SR 348 million. 

The company attributed the strong performance to a 26.67 percent rise year-on year in revenue amid higher number of patients and inpatient occupancy rates. 

Shareholders’ equity, excluding minority interest, increased to SR 5.201 billion, from SAR 4.810 a year earlier.