Asiri Hospitals group revenue up 17.6% to Rs. 1,307 million

Asiri Surgical Hospitals Ltd (formerly known as Asiri Medical Services Ltd) has recorded a 91.7% growth in profit after tax for the year ended March 31, 2006.

The company recorded a net profit of Rs. 132.8 million for the year, up 69.3 million recorded in the corresponding period last year. In its second year of operation, the company's revenue for the year was Rs. 564.0 million, up 47.6% from the Rs. 382.0 million recorded last year. Asiri Hospitals Ltd. recorded a profit after tax of Rs. 116.2 million, down 52.6% from the Rs. 245.3 million recorded last year.

This was mainly because the profit of 2004/05 (last year) included an extraordinary profit of Rs. 153.4 million due to capital gain as a result of Asiri Hospitals Limited selling a part of its Asiri Surgical Hospital stock.

Asiri Hospital's revenue was marginally up at Rs. 709.7 million from Rs. 696.9 million. The two companies contributed to a Group PAT of 208.5 million, Group Revenue was up 17.6% at Rs. 1,307 million from Rs. 1,111 million.

During the year, the Asiri Surgical's asset base grew to end the year at 1,325.9 million compared with Rs. 1,180 million at the end of the financial year. Net assets per share rose to Rs. 2.51 from Rs 1.17 in the same period last year.