Alhokair Group turns to losses of SAR 130.1 mln in H1 2021

19/08/2021 Argaam Exclusive

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Abdulmohsen Alhokair Group for Tourism and Development reported a net loss after Zakat and tax of SAR 130.1 million in H1 2021, from a net profit of SAR 4.2 million in the prior-year period.

The loss was attributed mainly to the repercussions of coronavirus pandemic and the enforcement of precautionary measures.

The company also recorded an impairment loss based on the IFRS impairment test.

Meanwhile, the group reported nonrecurring gain and nonrecurring rent concessions during the same period of the last year.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	350.63	323.64	(7.7 %)
Gross Income	79.77	29.88	(62.5 %)
Operating Income	(18.70)	(61.86)	(230.8 %)
Net Income	4.18	(130.05)	(3215.1 %)
Average Shares	226.54	226.54	-
EPS (Riyals)	0.02	(0.57)	(3215.1 %)

The company reported a net loss after Zakat and tax of SAR 70 million for Q2 2021, from a net profit after Zakat and tax of SAR 2.1 million in the same quarter last year.

On a sequential basis, the company widened losses in the second quarter.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	119.58	182.65	52.7 %
Gross Income	(1.52)	27.84	1937.5 %
Operating Income	(47.24)	(19.92)	57.8 %
Net Income	2.07	(69.95)	(3480.9 %)
Average Shares	226.54	226.54	-
EPS (Riyals)	0.01	(0.31)	(3480.9 %)

Item	Q1 2021	Q2 2021	Change‬
Revenues	140.99	182.65	29.5 %
Gross Income	2.04	27.84	1265.3 %
Operating Income	(41.94)	(19.92)	52.5 %
Net Income	(60.10)	(69.95)	(16.4 %)
Average Shares	226.54	226.54	-
EPS (Riyals)	(0.27)	(0.31)	(16.4 %)

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