| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit during Q2 2023 recorded SAR 81.85 million, increasing 25.73% year-on-year from the SAR 65.1 million booked during the same quarter of the previous year. Net profit growth was mainly driven by the following:• Expected credit loss provision, which booked a credit loss reversal of SAR 17.84 million during the second quarter of 2023 as the Company continued improving collection rates. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | Net profit during Q2 2023 recorded SAR 81.85 million, up a marginal 0.53% q-o-q from SAR 81.42 million in Q1 2023. The increase in net profit during the quarter is mainly attributable to:• Expected credit loss provision, due to the Company recording a credit loss reversal of SAR 17.84 million during Q2 2023 compared to an expected credit loss of SAR 5.88 million in the previous quarter. The effects of the credit loss reversal, however, were mostly counteracted by lower revenues and gross profitability as a result of lower patient volumes due to the holy month of Ramadan and Eid vacations falling in the second quarter of the year. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit reached SAR 163.27 million during 1H 2023, increasing 28.58% y-o-y from SAR 127.06 million in 1H 2022. The increase in net profit during the period was mainly driven by the following:• Revenues, which grew by 7.96% y-o-y to SAR 575.26 million during 1H 2023. Increased revenues for the period were dual driven by higher revenues reported by both Al Hammadi’s medical services and pharmaceutical segments.• Expected credit loss provision, which booked a credit loss reversal of SAR 17.84 million during the second quarter of 2023 bringing the net provision for expected credit losses reversed for the current period to SAR 11.96 million, compared to an expected credit loss of SAR 24.31 million in the same period of the previous year. |
| Statement of the type of external auditor’s report | Unmodified conclusion |
| Reclassification of Comparison Items | None |
