Dur Hospitality's profits leap 582.5% in Q1-22 initial results

Riyadh –  Dur Hospitality Company has logged net profits after Zakat and tax worth SAR 12.79 million during the first quarter (Q1) of 2022, an annual hike of 582.61% from SAR 1.87 million.

The revenues surged by 45.39% to SAR 145.66 million during the January-March 2022 period, compared to SAR 100.18 million during the same period in 2020, according to the interim financial results on Monday.

The earnings per share (EPS) increased to SAR 0.13 in Q1-22 from SAR 0.02 in Q1-21.

On a quarterly basis, the company's revenues in Q1-22 went up by 2.28% from SAR 142.40 million in Q4-21, while Dur Hospitality turned profitable against net losses of SAR 7.04 million in Q4-21.

In 2021, the Saudi listed firm incurred net losses after Zakat and tax of SAR 15.18 million, down 69.32% from SAR 49.49 million in 2020.

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