Financial Results : Alhokair Group trims Q1 2022 net loss to SAR 31.4 mln

Alhokair Group trims Q1 2022 net loss to SAR 31.4 mln

24/05/2022 Argaam Exclusive

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Abdulmohsen Alhokair Group for Tourism and Development cut its net loss after Zakat and tax by 47.8% to SAR 31.4 million in Q1 2022, from SAR 60.1 million a year earlier. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 140.99 172.38 22.3 %
Gross Income 2.04 27.48 1247.5 %
Operating Income (41.94) (17.59) 58.1 %
Net Income (60.10) (31.99) 46.8 %
Average Shares 226.54 315.00 39.1 %
EPS (Riyals) (0.27) (0.10) 61.7 %

The decline in losses was attributed to a 22.3% year-on-year (YoY) rise in revenue to SAR 172.38 million in Q1 2022. Revenue from hotel and entertainment segments jumped 18.6% and 31% YoY, respectively, to SAR 97.19 million and SAR 65.89 million. The group’s operating losses dropped 57.2% YoY to SAR 17.96 million.

 

Compared to the previous quarter, the group narrowed net losses by 34.2% from SAR 47.70 million. The group’s operating losses increased by 84.5% to SAR 17.96 million.

 

Shareholders’ equity, after minority interest, stood at SAR 345.67 million by the end of Q1 2022, from SAR 187.32 million a year earlier.

 

Accumulated losses reached SAR 303.66 million as of March 31, 2022, representing 46.72% of the company’s capital.

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