Dur Hospitality Co. announces the interim financial results for the period ending on 31-03-2018 (Three Months)
| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) | 18,127 | 24,911 | -27.23 | 19,578 | -7.41 |
| Gross profit (loss) | 28,437 | 32,176 | -11.62 | 36,135 | -21.3 |
| Operational profit (loss) | 20,224 | 25,703 | -21.32 | 21,873 | -7.54 |
| Earning or loss per share, Riyals | 0.18 | 0.25 | - | - | - |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | The decrease in net income during the current quarter compared with the same period of previous year was resulted from the decreased revenues of some of the Company hotel properties in Riyadh city due to the effect of declining demand from the business segment. In addition, the occurrence of partial closure to some hotel properties due to renovation works made as a result of the increased competition in the hospitality sector. It is worth mentioning that the number of available hotel rooms are in a continuous rise due to the increased openings of some hotel properties in Riyadh city. |
| Reasons of increase (decrease) for quarter compared with previous quarter | The decrease in net income during the current quarter compared with the previous quarter was resulted from recording exceptional performance of some of the Company hotels in Riyadh city during the previous quarter. |
| Other notes | - Revenues amounted to SAR (115.1) million in current quarter compared with SAR (118.4) million in the same quarter of previous year representing a decline by (2.8%), and compared with SAR (127.5) million in the previous quarter representing a decline by (9.7%). - Comprehensive Income amounted to SAR (18.1) million in current quarter compared with SAR (24.9) million in the same quarter of previous year representing a decrease by (27.4%), and compared with SAR (19.6) million in the previous quarter representing a decrease by (7.4%). - Shareholders Equity (excluding minority interest) amounted to SAR (1,775.7) million by the end of the current quarter compared with SAR (1,803.4) million by the end of the same period of previous year, representing a decline by (1.5%). |
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