Al Hammadi Company for Development and Investment announces the annual financial results for the period ending on 31-12-2017
|Net profit (loss)
|Earning or loss per share, Riyals
|Gross profit (loss)
|Operational profit (loss)
|All figures are in (Millions) Saudi Arabia, Riyals
|Reasons of annual financial results
||The increase in the net income, operating income, and net income in the current year compared to the last year is attributable to the increase in revenue by 17% as a result of the increase in the number of outpatient and inpatient in addition to optimize the contractual terms with some clients. In addition to that, in Q4 last year the company has provided an extra SAR 18.5 as doubtful debt provision which caused an additional decrease in the net and operating income. It is worth mentioning that Al Hammadi Hospital Olaya branch was closed during the year from 7 Feb 2016 to 7 Aug 2016 because of the fire incident.
|Reclassifications in annual financial results
||Certain figures of the previous year have been restated and reclassified to conform to the presentation for the current year presentation as per IFRS. For more information, refer to note (3) First-time adoption of IFRS of Condensed Interim Consolidated Financial Statements for the year ended 31-12-2017.
||1- The current year revenue is SR 708.6 million compared to SR 606.2 million in the previous year with increase of 17%. 2- The other comprehensive income of the current year is SR 107.4 million compared to SR 71.8 million previous year with increase of 50%. 3- Total shareholders equity as at the end of the current year is SR 1,387 million compared to SR 1,370 million as at the end of the previous year with increase of 1%. Please note that there is no minority interest (non-controlling interest).
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