Saudi: Dur Hospitality records 3,263% leap in 2022 net profits

Reuters Images/Fahad Shadeed

Revenues surged by 18.25% YoY

Staff Writer, Mubasher

February 22, 2023

PHOTO

Riyadh – Dur Hospitality Company achieved net profits after Zakat and tax worth SAR 40.16 million in 2022, an annual hike of 3,263% from SAR 1.19 million.

The Tadawul-listed firm registered revenues worth SAR 568.39 million in 2022, higher by 20.13% year-on-year (YoY) than SAR 473.15 million, according to the annual income statements.

Earnings per share (EPS) increased to SAR 0.40 last year from SAR 0.01 in 2021.

In the first nine months (9M) of 2022, Dur Hospitality turned profitable at SAR 2.17 million, against net losses after Zakat and tax of SAR 8.13 million in 9M-21.

Revenues surged by 18.25% YoY to SAR 391.10 million in 9M-22 from SAR 330.74 million.

Meanwhile, the EPS reached SAR 0.02 in January-September 2022, versus a loss per share of SAR 0.08 in 9M-21.

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