Alhokair Group cuts 9M 2022 loss to SAR 54.2 mln, Q3 at SAR 12.1 mln

08/11/2022 Argaam Exclusive

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Abdulmohsen Alhokair Group for Tourism and Development narrowed its net loss after Zakat and tax by 56.22% to SAR 54.2 million in the first nine months of 2022, from SAR 123.9 million a year earlier.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	514.65	520.94	1.2 %
Gross Income	70.47	97.31	38.1 %
Operating Income	(76.35)	(36.39)	52.3 %
Net Income	(123.87)	(56.43)	54.4 %
Average Shares	315.00	315.00	-
EPS (Riyals)	(0.39)	(0.18)	54.4 %

The group cited a 1.2% year-on-year (YoY) rise in revenue to SAR 520.94 million in 9M 2022.

The group’s operating losses dropped 78.1% YoY to SAR 15.06 million.

In Q3 2022, net profit after Zakat and tax reached SAR 12.1 million, compared to SAR 6.18 million in the third quarter of 2021.

Compared to the previous quarter, it turned to profitability from a loss of SAR 35 million in Q2 2022.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	191.01	176.50	(7.6 %)
Gross Income	40.59	46.36	14.2 %
Operating Income	(14.49)	3.12	121.5 %
Net Income	6.18	11.22	81.5 %
Average Shares	315.00	315.00	-
EPS (Riyals)	0.02	0.04	81.5 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	172.07	176.50	2.6 %
Gross Income	23.47	46.36	97.6 %
Operating Income	(21.93)	3.12	114.2 %
Net Income	(35.66)	11.22	131.5 %
Average Shares	315.00	315.00	-
EPS (Riyals)	(0.11)	0.04	131.5 %

Shareholders’ equity, after minority interest, stood at SAR 323.44 million by the end of 9M 2022, down from SAR 377.88 million a year earlier.

Accumulated losses reached SAR 326.52 million as of Sept. 30, 2022, representing 50.2% of the company’s capital of SAR 650 million.

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