According to the results of the company for the Saudi market (Tadawul), the profits of last year amounted to 420.17 million riyals, compared to the 2018 profits of 681.63 million riyals.
The company said that the decline in profits during the comparison years is due to the decrease in the company's share of the results of the companies invested in the method of equity.
The company also attributed the decline in annual profits to lower operating revenues for hotels, lower profits and gains from investments, as well as higher financial burdens and general, administrative and marketing expenses.
She also pointed to the increase in the decrease in financial assets, despite the increase in distributions income, as well as the decrease in operating costs of hotels and other losses, in addition to the decrease in Zakat and income tax expenses. < / p>
The company's revenues decreased last year to 2.23 billion riyals, compared to 2.58 billion riyals in 2018, a decrease of 13.4%.
