Dr. Sulaiman Al Habib Medical Services Group said third-quarter net profit rose 13.2% to SR681.6 million from SR602.3 million a year earlier, as revenue climbed 18.4% to SR4.10 billion.
The Riyadh-based hospital operator reported the preliminary results to the Saudi Exchange on Sunday. Operating profit rose 20% to SR798.9 million, according to figures compiled by Argaam.
The board also approved a cash dividend of SR1.37 per share for the third quarter, totaling SR479.5 million across 350 million shares, the company said in a separate filing reported by Maaal. Shareholders on record on Oct. 29 are eligible, and payment is due on Nov. 16.
The group attributed the profit increase to revenue growth and higher operating activity, which improved its ability to cover fixed costs. It said margins continue to reflect the gradual use of newly added capacity.
Net profit for the first nine months rose 5.6% to SR1.85 billion from SR1.75 billion, while revenue increased 15.4% to SR11.54 billion. The company cited growth in its hospitals and pharmacy segments, more patient visits and higher hospital occupancy.
Quarterly profit was 2.9% higher than the SR662.7 million earned in the second quarter, and above the SR659.7 million average analyst estimate compiled by Argaam.
Earnings per share for the nine months were SR5.28, compared with SR5.00 a year earlier. Shareholders’ equity reached SR8.47 billion at the end of September, up from SR7.68 billion a year earlier.
