Abdulmohsen Alhokair Group for Tourism and Development reported a net loss after Zakat and tax of SAR 130.1 million in H1 2021, from a net profit of SAR 4.2 million in the prior-year period.
The loss was attributed mainly to the repercussions of coronavirus pandemic and the enforcement of precautionary measures.
The company also recorded an impairment loss based on the IFRS impairment test.
Meanwhile, the group reported nonrecurring gain and nonrecurring rent concessions during the same period of the last year.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 350.63 | 323.64 | (7.7 %) |
| Gross Income | 79.77 | 29.88 | (62.5 %) |
| Operating Income | (18.70) | (61.86) | (230.8 %) |
| Net Income | 4.18 | (130.05) | (3215.1 %) |
| Average Shares | 226.54 | 226.54 | - |
| EPS (Riyals) | 0.02 | (0.57) | (3215.1 %) |
The company reported a net loss after Zakat and tax of SAR 70 million for Q2 2021, from a net profit after Zakat and tax of SAR 2.1 million in the same quarter last year.
On a sequential basis, the company widened losses in the second quarter.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 119.58 | 182.65 | 52.7 % |
| Gross Income | (1.52) | 27.84 | 1937.5 % |
| Operating Income | (47.24) | (19.92) | 57.8 % |
| Net Income | 2.07 | (69.95) | (3480.9 %) |
| Average Shares | 226.54 | 226.54 | - |
| EPS (Riyals) | 0.01 | (0.31) | (3480.9 %) |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 140.99 | 182.65 | 29.5 % |
| Gross Income | 2.04 | 27.84 | 1265.3 % |
| Operating Income | (41.94) | (19.92) | 52.5 % |
| Net Income | (60.10) | (69.95) | (16.4 %) |
| Average Shares | 226.54 | 226.54 | - |
| EPS (Riyals) | (0.27) | (0.31) | (16.4 %) |
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