Riyadh – Mubasher: Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) reported net losses after Zakat and tax of SAR 31.37 million in the first quarter (Q1) of 2022, an annual plunge of 47.80% from SAR 60.10 million.
The revenues stood at SAR 172.38 million in Q1-22, higher by 22.26% than SAR 140.99 million in Q1-21, according to the initial financial results on Tuesday.
Moreover, the loss per share settled at SAR 0.48 in the first three months (3M) of 2022, versus SAR 1.09 during the same period in the previous year.
On a quarterly basis, the revenues in Q1-22 fell by 11.03% from SAR 193.76 million in Q4-21, while the net losses plunged by 34.23% from SAR 47.70 million.
Meanwhile, the accumulated losses totalled SAR 303.66 million as of Q1-22, accounting for 46.72% of the SAR 650 million capital.
In 2021, Alhokair Group suffered net losses after Zakat and tax worth SAR 171.58 million, a 14.27% year-on-year (YoY) drop from SAR 200.16 million.
