Middle East Healthcare Co. announces its Interim Financial Results for the Period Ending on 2020-06-30 ( Six Months )

1- There is increase in revenue due to increase in inpatient traffic whereas outpatient has been decreased in pandemic of COVID-19

2- Decrease in cost of revenue due to effective procurement and patient case mix.

1- Decrease in revenue mainly due to drop in outpatient started from end of first quarter 2020 in pandemic of COVID-19, curfew and lockdown

2- The increase in cost of revenue due to proactive application of infection control and other preventive precautions.

3- Increase in finance charges due to the additional borrowings

1- There is increase in revenue due to increase in inpatient traffic whereas outpatient has been decreased in pandemic of COVID-19

2- Decrease in cost of revenue due to effective procurement and patient case mix.

Unmodified opinion
 

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

- During the first six months, we see drop in outpatient visits started from the last month of first quarter. Since the extent and duration of such impacts remain uncertain and dependent on future developments that cannot be accurately predicted at this time. For more info, please refer to Note 16 (Impact of COVID-19) on the condensed Consolidated Interim Financial Statements) in the notes accompanying the financial statements for the period ended 30 June 2020.

- Dammam hospital just started its operation and contribute losses to the extent of 35MSR for the period