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	-
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	-
EPS (Riyals)	(0.04)	0.05	223.9 %

Item	Q1 2022	Q2 2022	Change‬
Revenues	145.66	124.78	(14.3 %)
Gross Income	35.21	19.36	(45.0 %)
Operating Income	23.32	8.73	(62.6 %)
Net Income	32.33	4.64	(85.6 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	0.32	0.05	(85.6 %)

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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