Middle East Healthcare Company (MEAHCO) (4009.SE) reported its preliminary 4Q16 results, which dropped 14% Y-o-Y at SAR87mn; as revenues dropped a mild 3% Y-o-Y  reaching SAR418mn, along with an increase in operational costs, and despite an increase in outpatient visits. The company attributed the slight drop in revenue to a change in the client mix, while attributing the higher costs to an increase in total salaries paid. The increase in costs from salaries was due to adding 31 beds and 41 outpatient clinics Y-o-Y, which lead to a 12% Y-o-Y drop in operational income. (Company disclosure)