Al Hammadi 4Q2015 earnings rise 6% Y-o-Y on 22% increase in revenue
Al Hammadi Company for Development and Investment [4007.SE] reported its preliminary 4Q2015 results, showing net income growth of 6% Y-o-Y to SAR35.8 million (+29% Q-o-Q). The company cited the growth in earnings was driven by 22% Y-o-Y increase in revenue a result of improved contractual terms with clients and the start of operations of Al Hammadi Al Sewedy Hospital. Gross profit for the quarter came in at SAR70.6 million, up 26% Y-o-Y, while net operating profit growth came in at 17% Y-o-Y, reaching SAR40.4 million. (Tadawul)
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