A suite for sport has turned the time of fitness for the loss of 6.97 million riyals in the first quarter of 2021, compared to net profit for SR 6.25 million in the same quarter of 2020.
According to Arab Net, the company's losses increased by 1266.7% on a quarter-finals, compared to losses of about 0.51 million riyals in the fourth quarter of 2020.
"The decline in net profit in an annual basis is due to a decline of 24.85% to 148.54 million riyals, compared to SR 197.67 million,
The company added that revenue retreat due to lower membership, personal training and rents by SAR 49.12 million, representing 24.85% due to the closure of clubs and sports halls in the Kingdom from 5 February 2021 to 6 March 2021 as a precautionary measure to overcome the outbreak of Corona virus.
Fitness time, said that the income of contributions was not recognized during the closure period and the application of precautionary measures had reduced the number of participants.
A suite for sports has suffered losses of SR 58.72 million in 2020 for the first time in its history, compared to SR 205.92 million earnings in 2019.
