The net profit of the “Dur Hospitality” company increased during 2022 by 3264%, to reach 40.16 million riyals after zakat and tax, compared to about 1.19 million riyals in profits.
The company said in a statement on “Tadawul Saudi Arabia”, today, Tuesday, that the increase in annual profits during 2022, on an annual basis, is due to the positive growth of the company’s revenues, as revenues increased by 20.1% from the previous year due to the improvement in the company’s hotel revenues due to the recovery of the Umrah and Hajj season and the high The demand for hotels in Riyadh due to the holding of many conferences and events.
She added that the increase in real estate sector revenues due to the completion of occupancy of residential complexes, and this improvement led to an increase in operating profit for this year by 35.7 million riyals, or by 136.2% over the previous year. The company’s net profit for this year increased by 38.9 million riyals from the previous year.
The revenues of “Dur Hospitality” increased by 20.13% in 2022, to about 568.39 million riyals, compared to about 473.15 million riyals in 2021.