Dur Hospitality Co. reported a net profit after Zakat and tax of SAR 2.2 million for the first nine months of 2022, versus a net loss of SAR 8.1 million in the year-earlier period.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 330.74 | 391.11 | 18.3 % |
| Gross Income | 29.19 | 73.47 | 151.7 % |
| Operating Income | 6.78 | 41.43 | 511.3 % |
| Net Income | (8.14) | 34.89 | 528.7 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | (0.08) | 0.35 | 528.7 % |
This was driven by a more than six-fold year-on-year (YoY) increase in operating profit on improved revenue, despite a SAR 12 million hike in financing costs due to high interest rates.
Dur incurred SAR 6 million in net loss after Zakat and tax in Q3 2022, compared to SAR 6.27 million in the prior-year period, on higher operating profit, which rose to SAR 4.8 million by the end of the three-month period, and improved revenue.
On a sequential basis, net losses widened by 32% from SAR 4.58 million in Q2 2022, despite a 7.5% quarter-on-quarter (QoQ) improvement in operating profit.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 117.00 | 120.66 | 3.1 % |
| Gross Income | 14.18 | 18.91 | 33.3 % |
| Operating Income | 4.63 | 9.38 | 102.9 % |
| Net Income | (6.27) | (2.08) | 66.9 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | (0.06) | (0.02) | 66.9 % |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 124.78 | 120.66 | (3.3 %) |
| Gross Income | 19.36 | 18.91 | (2.3 %) |
| Operating Income | 8.73 | 9.38 | 7.5 % |
| Net Income | 4.64 | (2.08) | (144.8 %) |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.05 | (0.02) | (144.8 %) |
Total shareholders’ equity, after minority interest, reached SAR 1.625 billion as of Sept. 30, 2022, compared to SAR 1.631 billion in the prior-year period.
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