Riyadh – Mubasher: Abdulmohsen Alhokair Group for Tourism and Development Company’s third quarter (Q3) losses deepened by 604.4% annually to SAR 109.32 million.

The hike in quarterly losses was driven by lower revenues by SAR 188.6 million and a drop of SAR 5 million in the company’s share from the net results of joint ventures (JVs), according to a bourse disclosure on Wednesday.

Meanwhile, total expenses declined by SAR 98.3 million during the quarter.

Revenues for Q3-20 plunged by 62.5% year-on-year (YoY) to reach SAR 113.23 million from SAR 301.85 million in Q3-19.

Over the first nine months of the year, the losses leapt by 123.9% YoY to stand at SAR 105.15 million.