Dur Hospitality Co. (Dur) reported a net profit after Zakat and tax of SAR 10.9 million for the first quarter of 2020, a 15% year-on-year (YoY) increase, compared to SAR 9.5 million in the same period last year.
The increase in profits was driven by higher revenues due to opening of new facilities.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 114.50 | 139.91 | 22.2 % |
| Gross Income | 24.19 | 32.71 | 35.2 % |
| Operating Income | 13.53 | 21.04 | 55.5 % |
| Net Income | 9.48 | 10.87 | 14.6 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.09 | 0.11 | 14.6 % |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 173.84 | 139.91 | (19.5 %) |
| Gross Income | 47.68 | 32.71 | (31.4 %) |
| Operating Income | 36.05 | 21.04 | (41.6 %) |
| Net Income | 24.46 | 10.87 | (55.6 %) |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.24 | 0.11 | (55.6 %) |
When compared to the previous quarter, Q1 net profit slumped 55% due to decline in hotel revenues due to seasonality factors.
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