Financial Results : Dur logs SAR 32.3 mln profit in Q1 2022

Dur logs SAR 32.3 mln profit in Q1 2022

16/05/2022 Argaam Exclusive

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Dur Hospitality Co. reported a net profit of SAR 32.3 million for Q1 2023, against a loss of SAR 1.8 million in the year-ago period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 100.18 145.66 45.4 %
Gross Income 2.79 35.21 1162.3 %
Operating Income (1.79) 23.32 1404.1 %
Net Income 1.88 32.33 1624.1 %
Average Shares 100.00 100.00 -
EPS (Riyals) 0.02 0.32 1624.1 %

The significant rise was buoyed by higher revenue from various segments, on easing of the COVID-19 precautionary measures and the gradual return to the business sector. Moreover, the suspension of Umrah was lifted and the capacity of the Grand Mosque was raised. Dur achieved an increase of SAR 25.1 million year-on-year (YoY) in net operating profit.

 

Compared to Q4 2021, the company's first-quarter earnings surged from SAR 9.33 million.

 

Total shareholders’ equity, after minority interest, declined to SAR 1.63 billion at the end of the three-month period, from SAR 1.64 billion a year earlier.

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