Dur turns to SAR 2.2 mln profit in 9M 2022; Q3 loss narrows to SAR 6 mln

02/11/2022 Argaam Exclusive

View other reports

Dur Hospitality Co. reported a net profit after Zakat and tax of SAR 2.2 million for the first nine months of 2022, versus a net loss of SAR 8.1 million in the year-earlier period.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	330.74	391.11	18.3 %
Gross Income	29.19	73.47	151.7 %
Operating Income	6.78	41.43	511.3 %
Net Income	(8.14)	34.89	528.7 %
Average Shares	100.00	100.00	-
EPS (Riyals)	(0.08)	0.35	528.7 %

This was driven by a more than six-fold year-on-year (YoY) increase in operating profit on improved revenue, despite a SAR 12 million hike in financing costs due to high interest rates.

Dur incurred SAR 6 million in net loss after Zakat and tax in Q3 2022, compared to SAR 6.27 million in the prior-year period, on higher operating profit, which rose to SAR 4.8 million by the end of the three-month period, and improved revenue.

On a sequential basis, net losses widened by 32% from SAR 4.58 million in Q2 2022, despite a 7.5% quarter-on-quarter (QoQ) improvement in operating profit.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	117.00	120.66	3.1 %
Gross Income	14.18	18.91	33.3 %
Operating Income	4.63	9.38	102.9 %
Net Income	(6.27)	(2.08)	66.9 %
Average Shares	100.00	100.00	-
EPS (Riyals)	(0.06)	(0.02)	66.9 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	124.78	120.66	(3.3 %)
Gross Income	19.36	18.91	(2.3 %)
Operating Income	8.73	9.38	7.5 %
Net Income	4.64	(2.08)	(144.8 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	0.05	(0.02)	(144.8 %)

Total shareholders’ equity, after minority interest, reached SAR 1.625 billion as of Sept. 30, 2022, compared to SAR 1.631 billion in the prior-year period.

View more financial results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×