Financial Results : Alhokair Group widens net loss to SAR 105.2 mln in 9M 2020

Alhokair Group widens net loss to SAR 105.2 mln in 9M 2020

28/10/2020 Argaam Exclusive

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Abdulmohsen Alhokair Group for Tourism and Development widened its net loss after Zakat and tax to SAR 105.2 million for the first nine months of 2020, from SAR 47 million in the same period a year earlier.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 861.51 463.86 (46.2 %)
Gross Income 226.86 38.21 (83.2 %)
Operating Income 28.32 (108.99) (484.9 %)
Net Income (46.96) (105.15) (123.9 %)
Average Shares 226.54 226.54 -
EPS (Riyals) (0.21) (0.46) (123.9 %)

The company attributed the increase in net loss to lower revenue from the hotels segment due to the COVID-19 outbreak and lower share of profit from joint ventures.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 301.85 113.23 (62.5 %)
Gross Income 82.85 (41.57) (150.2 %)
Operating Income 13.46 (90.29) (770.8 %)
Net Income (15.52) (109.32) (604.5 %)
Average Shares 226.54 226.54 -
EPS (Riyals) (0.07) (0.48) (604.5 %)

Meanwhile, the company widened its net loss after Zakat and tax to SAR 109.3 million for Q3 2020, due to lower revenues.

 

On a quarterly basis, the company turned to net loss on lower revenues and higher direct costs.

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