Riyadh – Mubasher: Dur Hospitality Company posted net losses after Zakat and tax worth SAR 6.26 million during the third quarter (Q3) of 2021, lower by 25% than SAR 8.41 million in Q3-20.

Revenues surged by 17% year-on-year (YoY) to SAR 117 million in Q3-21 from SAR 99.58 million, according to the initial financial results on Monday.

On a quarterly basis, the net losses in Q3-21 were 67.4% higher than SAR 3.74 million in Q2-21, while the revenues soared by 3% from SAR 113.56 million.

During the first nine months of 2021, Dur Hospitality’s net losses deepened by 8.9% YoY to SAR 8.13 million from SAR 7.46 million.

The loss per share stood at SAR 0.08 at the end of September this year, compared to SAR 0.07 in the same period in 2020.

Revenues inched down 0.5% YoY to SAR 330.74 million in January-September 2021 from SAR 332.44 million.

At the end of September 2021, the company’s accumulated losses amounted to SAR 6.75 million, representing 0.68% of the SAR 1 billion capital.