(MENAFN) Burjeel Holding Group PLC, a leading provider of specialized healthcare services in the Middle East and North Africa region, and a listed entity on the Abu Dhabi Financial Market, has unveiled its financial results for the first quarter of the year ending March 31, 2024. According to filings on the Abu Dhabi Market, the company reported a 16 percent increase in net profits (excluding non-recurring items and taxes), reaching 141 million dirhams (approximately USD38.4 million) in Q1 2024. This growth was attributed to enhanced operational efficiency and reduced financing costs.
However, Burjeel Holding Company's net profits experienced a decline of 14 percent, totaling 104 million dirhams (USD28.3 million) in Q1 2024, compared to profits of 121 million dirhams recorded during the corresponding period in 2023. Despite this decline, the company's financial performance remains robust, driven by strategic initiatives aimed at optimizing operational effectiveness.
The financial statement further revealed a noteworthy 11.1 percent year-on-year increase in revenues, reaching 1.2 billion dirhams (USD327 million) in Q1 2024, compared to approximately 1.08 billion dirhams generated in the same period in 2023. This revenue growth underscores Burjeel's resilience and continued ability to capture market opportunities amidst evolving industry dynamics.
Moreover, Burjeel Holding Group PLC continued its strategic geographical expansion efforts during the quarter, with the inauguration of 13 new physiotherapy centers in the Kingdom of Saudi Arabia by May 2024. This expansion initiative brings the total number of physiotherapy centers operated by the group to 17, strategically distributed across key cities including Riyadh, Medina, Jeddah, Dammam, Khobar, and Yanbu. The expansion underscores Burjeel's commitment to enhancing access to specialized healthcare services and meeting the growing healthcare needs of communities across the region.
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