RIYADH: Saudi Arabia's Dallah Healthcare boosted revenues last year but bottom line profits fell as it absorbed the costs of starting its latest hospital.
Net profit fell by about 32 percent to SR100.1 million( $26.7 million), the company said in a filing to the Tadawul stock exchange.
Overall sales gained more than 5 percent to SR1.32 billion.
Profits declined because of the anticipated start-up costs for the company's Dr. Mohammed Al Faqueeh Hospital, in which it holds about 31 percent.
The healthcare group also cited additional credit losses resulting from the economic slowdown.
The Dallah board recommended a 2.5 percent cash dividend, at SR 0.25 per share, for the second half of the fiscal year 2020, the company said in a separate filing.
Dallah profit falls on latest Saudi hospital start-up costs
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Dallah profit falls on latest Saudi hospital start-up costs
- Net profit fell by about 32 percent to SR100.1 million( $26.7 million)
Closing Bell: Saudi main index closes in red at 11,183
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.
The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.
The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.
The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.
The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.
Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.
On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.
Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.
On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.
In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”
Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.
The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.
