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| Sunday, 26 June 2005 |
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| News Business Features Editorial
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Asiri Hospitals Group records Rs. 282 million net profit The Asiri Hospitals Group recorded an after tax net profit of Rs. 282.0 million for the financial year ended March 31, 2005 - up from Rs. 114.0 million last year. Profit from operating activities was up 36% at Rs. 241.0 million, from 177.0 million last year. The profits came on the back of a 46% growth in revenue from 739.0 million last year to Rs. 1,080.0 million in 2004/05. Other income improved to 166.0 million, boosted mainly by profit on sale of subsidiary company shares. Earnings per share recorded a rise from 3.02 per share last year to Rs. 7.44 per share in 2004/05. The Directors have declared two interim dividends at 7.5% (100% Tax Free) on May 31, 2005 for both hospitals AHL and AMSL for the year 2004/05. The date of the payment is to be announced shortly. Asiri Hospitals paid an interim dividend of 10% (100% Tax Free) on December 29, 2004 and a further 10% Final Dividend for the year 2003/04 was paid on the same day. Asiri Medical Services paid its first interim dividend of 7.5% (100% Tax Free) on December 29, 2004. The Asiri Share ended the year at Rs. 37, compared to Rs. 29 at the end of last financial year. During the year, the shares traded at a high of Rs. 43 and a low of Rs. 35. Of the two Group Hospitals, Asiri Hospitals Limited has recorded a net profit of Rs. 259.0 million for the year ended March 31, 2005, up by 167.8% from Rs. 97.0 million last year. Revenue for the year stood at Rs. 704.0 million, up by marginal 7.5% from Rs. 655.0 million recorded last year. Asiri Medical Services Limited meanwhile recorded a profit of Rs. 71.0 million compared with Rs. 20.0 million last year. AMSL revenue was up by 490% at Rs. 344.0 million - compared to 58.0 million an year ago. A right issue of shares in February 2005 was oversubscribed while Asiri Hospitals Limited has repaid most of its short-term borrowings. |
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