Middle East Healthcare Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

28 February 2021
Introduction
The reason of the increase (decrease) in the net profit during the current year compared to the last year is

Increase in net profit for the current twelve months period compared to the same period of last year is due to:

1- There is increase in revenue due to increase in in-patient traffic and case mix

2- Decrease in cost of revenue due to effective procurement.
Statement of the type of external auditor's report

Unmodified opinion
 
Reclassification of Comparison Items

Certain figures of the previous year have been reclassified and regrouped to conform to the presentation for the current year presentation as per International Financial Reporting Standard 16 as endorsed in the Kingdom of Saudi Arabia.
 
Additional Information

Dammam hospital started its operation just 2 weeks before COVID-19 pandemic and contribute losses to the extent of 65.38 MSR for this period.