Dur turns to losses of SAR 49.5 mln in 2020

25/03/2021 Argaam Exclusive

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Dur Hospitality Co. reported a net loss after Zakat and tax of SAR 49.5 million for 2020 from a net profit of Zakat and tax of SAR 53 million in 2019.

The company attributed the losses to lower hospitality revenue resulting from closure of its facilities in Makkah due to COVID-19, which led to stoppage of Umrah and pilgrimage season.

In addition, there was a drop of demand for hotels sector by business sector and individuals because of the preventive measures taken to control spread of the virus, along with a decrease of other revenue, booking of provisions for doubtful debts as well as booking some provisions to meet some probable liabilities.

Financials (M)

Item	2019	2020	Change‬
Revenues	553.85	442.32	(20.1 %)
Gross Income	119.18	60.82	(49.0 %)
Operating Income	78.73	5.75	(92.7 %)
Net Income	53.00	(49.50)	(193.4 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	0.53	(0.49)	(193.4 %)

The company reported a net loss after Zakat and tax of SAR 42 million for Q4 2020, compared to net profit of SAR 24.5 million in Q4 2019.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	173.84	109.87	(36.8 %)
Gross Income	47.68	0.54	(98.9 %)
Operating Income	36.05	(23.44)	(165.0 %)
Net Income	24.46	(42.03)	(271.8 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	0.24	(0.42)	(271.8 %)

Item	Q3 2020	Q4 2020	Change‬
Revenues	99.59	109.87	10.3 %
Gross Income	14.41	0.54	(96.3 %)
Operating Income	6.53	(23.44)	(459.3 %)
Net Income	(8.41)	(42.03)	(399.7 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	(0.08)	(0.42)	(399.7 %)

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