Financial Results : Dur makes SAR 37 mln profit in H1 2022; Q2 at SAR 4.6 mln

Dur makes SAR 37 mln profit in H1 2022; Q2 at SAR 4.6 mln

18/08/2022 Argaam Exclusive

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Dur Hospitality Co. posted a net profit of SAR 37 million for the first half of 2022, against a loss of SAR 1.9 million a year earlier.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 213.74 270.44 26.5 %
Gross Income 15.01 54.56 263.5 %
Operating Income 2.15 32.04 1389.0 %
Net Income (1.87) 36.97 2078.1 %
Average Shares 100.00 100.00 -
Earnings Per Share before unusual items (Riyals) (0.16) 0.35 317.3 %
EPS (Riyals) (0.02) 0.37 2078.1 %

This was due to higher revenues due to the return of the number of pilgrims and Umrah performers to pre-pandemic (COVID-19) levels, in addition to the high demand for other hotels.

 

In Q2 2022, the company posted a net profit of SAR 4.6 million, versus a loss of SAR 3.74 million a year earlier.

 

Compared with the previous quarter, Q2 2022 net profit fell 85.6% from SAR 32.33 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 113.56 124.78 9.9 %
Gross Income 12.22 19.36 58.4 %
Operating Income 3.94 8.73 121.5 %
Net Income (3.74) 4.64 223.9 %
Average Shares 100.00 100.00 -
Earnings Per Share before unusual items (Riyals) (0.04) 0.05 223.9 %
EPS (Riyals) (0.04) 0.05 223.9 %

Total shareholders’ equity, after minority interest, reached SAR 1.59 billion by the end of the six-month period, a decline from SAR 1.63 billion in the prior-year period.

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