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Alhokair Group’s accumulated losses hit 0% of capital

Alhokair Group’s accumulated losses hit 0% of capital
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Riyadh – Mubasher: The accumulated losses of Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) reached 0% of the capital as of 6 October 2022, according to a bourse filing.

The firm absorbed accumulated losses of SAR 335 million after reducing its capital by 51.54% to SAR 315 million from SAR 650 million.

In the first nine months (9M) of 2022, Alhokair Group posted a 56.22% plunge in net losses after Zakat and tax to SAR 54.23 million, compared to SAR 123.87 million in the year-ago period.

Revenues went up by 1.22% to SAR 520.94 million in 9M-22 from SAR 514.65 million in 9M-21.

During the first half (H1) of 2022, the Tadawul-listed firm reported net losses after Zakat and tax worth SAR 66.34 million, lower by 48.99% year-on-year (YoY) than SAR 130.05 million.