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.
| 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 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 193.76 | 172.38 | (11.0 %) |
| Gross Income | 33.30 | 27.48 | (17.5 %) |
| Operating Income | (7.80) | (17.59) | (125.4 %) |
| Net Income | (49.84) | (31.99) | 35.8 % |
| Average Shares | 315.00 | 315.00 | - |
| EPS (Riyals) | (0.16) | (0.10) | 35.8 % |
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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