Riyadh –  The net profits after Zakat and tax of Dur Hospitality Company decreased by 18.53% to SAR 28.42 million during the first nine months (9M) of 2023 from SAR 34.89 million in 9M-22.

The earnings per share (EPS) went down to SAR 0.28 in 9M-23 from SAR 0.35 in the same period a year earlier, according to a bourse filing.

The hospitality company generated revenues worth SAR 495.34 million during the January-September 2023 period, signalling a 26.65% annual growth from SAR 391.10 million.

Income Statements for Q3-23

During the third quarter (Q3) of 2023, Dur Hospitality turned to net profits after Zakat and tax worth SAR 4.40 million, against net losses amounting to SAR 2.07 million in Q3-22.

The revenues, meanwhile, soared by 23.81% to SAR 149.38 million during July-September 2023, compared with SAR 120.66 million in the same 3M in 2022.

On a quarterly basis, the net profits in Q3-23 declined by 37.50% from SAR 7.04 million in Q2-23, while the revenues shrank by 15.98% from SAR 177.81 million.

In the first half (H1) of 2023, Dur Hospitality achieved net profits of SAR 24.02 million in addition to revenues worth SAR 345.96 million.

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