‎“Dur” profits jump by 3264% during 2022, to SR40 mln

Dur Hospitality Company revealed an increase in net profit after zakat and tax during the year ending in 2022 to 40.1 million riyals, compared to 1.2 million riyals in the previous year, at a rate of 3263.9%. This came after today’s announcement of the annual financial results ending on 12-31-2022. ,.

The operational profit amounted to 62 million riyals during the year ending in 2022, compared to 26.2 million riyals in the previous year, with a growth of 136.2%.

The total shareholders’ equity “without minority rights” amounted to 1.59 billion riyals in the current year, compared to 1.55 billion riyals in the previous year, an increase of 2.7%.

Earnings per share in the current year reached 0.4 riyals, compared to 0.01 riyals in the previous year.

– The reason for the increase in net profit for this year compared to the previous year is due to the positive growth of the company’s revenues, as revenues increased by 20.1% over the previous year due to the improvement in the company’s hotel revenues due to the recovery of the Umrah and Hajj season and the high demand for hotels in Riyadh due to the establishment of many Conferences and events and an increase in real estate sector revenues due to the completion of occupancy of residential complexes. This improvement led to an increase in operating profit for this year by 35.7 million riyals, or by 136.2% over the previous year. The company’s net profit for this year also increased by 38.9 million riyals from the previous year.