Dur Hospitality Co. posted net earnings after Zakat and tax to SAR 40.2 million to 2022, compared with SAR 1.2 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 473.15 | 568.40 | 20.1 % |
| Gross Income | 59.50 | 134.95 | 126.8 % |
| Operating Income | 26.23 | 89.38 | 240.8 % |
| Net Income | 1.19 | 40.17 | 3264.0 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.01 | 0.40 | 3264.0 % |
The profit growth was driven by a 20.1% rise in revenues, mainly due to the improved hospitality revenues on the revival of the Umrah and Hajj season and higher demand for hotels in Riyadh as a result of the convening of many conferences and events.
Further, revenues from the real estate segment also increased due to the full occupancy of the residential complexes. This led to an increase in operating profit by 136.2% or SAR 35.7 million in 2022.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 142.41 | 177.29 | 24.5 % |
| Gross Income | 30.31 | 61.48 | 102.8 % |
| Operating Income | 19.45 | 47.96 | 146.6 % |
| Net Income | 9.33 | 37.99 | 307.1 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.09 | 0.38 | 307.1 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 120.66 | 177.29 | 46.9 % |
| Gross Income | 18.91 | 61.48 | 225.2 % |
| Operating Income | 9.38 | 47.96 | 411.0 % |
| Net Income | (2.08) | 37.99 | 1928.2 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | (0.02) | 0.38 | 1928.2 % |
The fourth-quarter net earnings reached SAR 38 million, compared with SAR 9.33 million a year before.
Compared with the previous quarter, the company turned a profit from a loss of SAR 6.05 million.
Total shareholders’ equity, after minority interest, reached SAR 1.59 billion as of Dec. 31, 2022, compared with SAR 1.55 billion a year earlier.
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