The profits of a hospitality company declined by 82.7%, after Zakat and the tax was 1.87 million riyals in the first quarter of 2021, compared to 10.87 million riyals in the same quarter.
According to Arab Net, the company has achieved a net loss of about 42.03 million riyals in the fourth quarter of 2020.
The role of hospitality, said in a statement on Saudi trading on Tuesday, said that the reason for decreased net profit during the first quarter of 2021 compared to the same quarter, returns to the continued repercussions of the Corona crisis and resulting from operational challenges for the company's hotels, resulting in low income revenue The company in Mecca is given to stop the external Umrah and the sharp drop in demand for other hotels as a result of precautionary measures to reduce the spread of virus.
The company said, despite those challenges, the company was able to reduce expenses to reduce the impact of the crisis.
The role of a hospitality has been divided by 49.49 million riyals in 2020, compared to net profit of SR 53 million in 2019.
