Financial Results : Dur net profit drops 83% to SAR 1.9 mln in Q1 2021

Dur net profit drops 83% to SAR 1.9 mln in Q1 2021

04/05/2021 Argaam Exclusive

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Dur Hospitality Co. reported a net profit after Zakat and tax of SAR 1.9 million in Q1 2021, a drop of 83% from a profit of SAR 10.9 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 139.91 100.18 (28.4 %)
Gross Income 32.71 2.79 (91.5 %)
Operating Income 21.04 (1.79) (108.5 %)
Net Income 10.87 1.88 (82.7 %)
Average Shares 100.00 100.00 -
EPS (Riyals) 0.11 0.02 (82.7 %)

The sharp decline in profit was attributed mainly to lower hospitality revenues, which suffered due to the economic repercussions of COVID-19 pandemic.

The company swung to net profit in Q1 2021, compared to a loss after Zakat and tax of SAR 42 million in Q4 2020.

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