Saudi: Alhokair Group’s accumulated losses hit 35% of capital

Reuters Images/Ahmed Yosri

The group reported accumulated losses valued at $29.31mln in the first quarter (Q1) of 2024

Staff Writer, Mubasher

May 28, 2024

PHOTO

Riyadh – Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) decreased its accumulated losses from 36.20% to 34.90% of the SAR 315 million capital.

The group reported accumulated losses valued at SAR 109.94 million in the first quarter (Q1) of 2024, according to a bourse disclosure.

Alhokair Group turned profitable at SAR 4.22 million in January-March 2024, against net losses worth SAR 34.34 million in Q1-23.

Total revenues dropped to SAR 158.11 million in Q1-24 from SAR 163.83 million a year earlier.

Last April, Alhokair Group appointed Sami Abdul Mohsen Abdulaziz Al Hokair and Faisal Mohammed Ibrahim Al Malik as the Chairman and Vice Chairman of the board, respectively.

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