Saudi hospital operator Sulaiman Al Habib’s shares fall despite 22% profit growth in H1

RIYADH: Shares of Hospital operator Dr. Sulaiman Al Habib Group declined 0.37 percent to SR218 ($58) on Sunday, despite posting a 22 percent increase in profit for the first half of 2022.

The company earned SR789 million ($210 million) in profit in the first half, compared to SR644 million in the prior year, according to a bourse statement.

The operator’s revenue increased 16 percent, reaching SR4 billion for the six months period ended 30th June 2022, compared to SR3.4 billion in the corresponding period of the previous year, driven by growth in the hospital segment.

Following the announcement, its board recommended distributing SR301 million in dividends at SR0.86 per share during the second quarter of 2022.