The net profits of the Saudi “Al -Nahdi Medical Company” decreased in the second quarter of this year by 3.7 percent, to 238.4 million riyals (63.6 million dollars), compared to 247.7 million riyals (66 million dollars) in the same quarter of the previous year.
The company attributed the decline in net profits, in a statement on the “Tadawul” website, to the decrease in operational profit, which amounted to 260.6 million riyals (69.6 million dollars), a decrease of 12.8 million riyals (3.4 million dollars) from the same quarter of last year, which recorded 273.4 million riyals (73 million dollars).
The company attributed this decline mainly to support sales growth and accelerate business pace, while post -profit terms showed a net increase in expenses by 3.4 million riyals (900 thousand dollars).
On the other hand, the total profit increased by 3.2 percent to 966 million riyals (257.8 million dollars), compared to 936.2 million riyals ($ 250 million) in the same quarter of the previous year. The total profit margin also witnessed an increase to 38.2 percent, with the support of the improvement of the sales mix in the retail sector.
In the second quarter, the company recorded the total sales of 2.5 billion riyals (667 million dollars), with an annual growth of 2.2 percent, compared to 2.4 billion riyals (640 million dollars) in the same quarter of last year.
Al -Nahdi explained that these results come in the wake of a strong performance during the first quarter of this year, in addition to a higher sales base, in the same quarter of the previous year, as a result of the seasonal factor.
In a separate statement, the company announced that its board of directors decided to distribute cash profits to shareholders for the first half of this year, with a total of 338 million riyals (90.3 million dollars). The share share of the distribution was 2.60 riyals, with a distribution rate to the nominal value of the share, amounting to 26 percent.
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