Dur turns to losses of SAR 7.5 mln in 9M 2020

11/11/2020 Argaam Exclusive

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Dur Hospitality Co. turned to a net loss after Zakat and tax of SAR 7.5 million for the first nine months of 2020, compared to a profit of SAR 28.5 million in the same period a year earlier.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 380.01 332.45 (12.5 %)
Gross Income 71.50 60.28 (15.7 %)
Operating Income 42.68 29.20 (31.6 %)
Net Income 28.54 (7.47) (126.2 %)
Average Shares 100.00 100.00 -
Earnings Per Share before unusual items (Riyals) 0.17 (0.07) (143.6 %)
EPS (Riyals) 0.29 (0.07) (126.2 %)

The company attributed nine-month net losses to lower hotel revenue in Makkah, due to the suspension of the Umrah and Hajj season and weak demand for hotels by business and individuals amid the preventive precautions taken to contain the COVID-19 pandemic. In addition, the decrease in other revenues and allocation of doubtful debt provisions also weighed on the results.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 139.16 99.59 (28.4 %)
Gross Income 30.10 14.41 (52.1 %)
Operating Income 22.30 6.53 (70.7 %)
Net Income 15.19 (8.41) (155.4 %)
Average Shares 100.00 100.00 -
Earnings Per Share before unusual items (Riyals) 0.11 (0.08) (175.8 %)
EPS (Riyals) 0.15 (0.08) (155.4 %)

The company turned to losses of SAR 8.4 million in Q3 2020 from a profit of SAR 15.2 million in the same quarter a year earlier.

 

When compared to previous quarter, the company narrowed its losses in Q3 2020 on improved revenue of some company’s facilities.

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Share Price

Dur Hospitality Company
27.00
0.20 0.75 %


Financial Ratios
Current
Market Cap (M Riyal) 2,700.00
Enterprise Value (EV) (M) 3,783.73
Shares Outstanding ((M)) 100.00
EPS ( Riyal) (TTM) 0.66
Book Value (BV) ( Riyal) 16.27
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 47.70
P/E (TTM) 40.65
Price/book 1.66
Return on Average Assets (%) (TTM) 1.9
Return on Average Equity (%) (TTM) 4.1
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