Financial Results : Dur profit falls to SAR 17 mln in Q1 2023

Dur profit falls to SAR 17 mln in Q1 2023

08/05/2023 Argaam Exclusive

View other reports

Dur Hospitality Co. reported a net profit of SAR 17 million in Q1 2023, from SAR 32.3 million in the year-ago period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 145.66 168.15 15.4 %
Gross Income 35.21 51.44 46.1 %
Operating Income 23.32 39.01 67.3 %
Net Income 32.33 16.99 (47.5 %)
Average Shares 100.00 100.00 -
EPS (Riyals) 0.32 0.17 (47.5 %)

The profit decline was attributed to the adjustment of Q1 2022 net profit for the income recognized from the accounting treatment of derivative financial instruments, which amounted to SAR 19.5 million. When excluding the effect of adjustment, net profit would grow for the current quarter.

 

However, operating revenue increased by 15.4%, or SAR 22.5 million, year-on-year (YoY) during Q1 2023, and operating profit rose by 67.3%, or SAR 15.7 million, YoY, due to the growth in hospitality revenue on the recovery of Umrah season and high demand for hotels in Riyadh.

 

Compared to Q4 2022, the first-quarter net earnings dropped 55.3% from SAR 37.99 million.

 

Total shareholders’ equity, after minority interest, declined to SAR 1.61 billion at the end of Q1 2023, from SAR 1.58 billion a year earlier.

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.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
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.