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Abdulmohsen Alhokair of KSA reports 17.8% jump in net losses

A handout picture provided by the Saudi Royal Palace on April 18, 2018, shows mime actors sitting outside the AMC cinema in the capital Riyadh ahead of the first test film screening in over three decades. Blockbuster action flick "Black Panther" play at a cinema test screening in Saudi Arabia on April 18, the first in a series of trial runs before movie theatres open to the wider public next month. The conservative kingdom lifted a 35-year ban on cinemas last year as part of a far-reaching liberalisation drive, with US giant AMC Entertainment granted the first licence to operate movie theatres. / AFP PHOTO / Saudi Royal Palace / BANDAR AL-JALOUD / XGTY / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / SAUDI ROYAL PALACE / BANDAR AL-JALOUD" - NO MARKETING - NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS
By TRENDS Desk
November 7, 2021 9:34 pm
  • Net losses increased to SR123.87 million in the first 9 months of 2021 from SR105.15 million during the same period of the last year
  • The group’s net profit for the third quarter in 2021 has increased by 106 percent

Abdulmohsen Alhokair, the Saudi entertainment group, has reported an increase in net losses by 17.8 percent during the first 9 months of 2021, despite it turning into profit in third quarter as the group managed to record a net profit of SR6.2 million ($1.6 million), a bourse filing revealed.

Net losses increased to SR123.87 million in the first 9 months of 2021 from SR105.15 million during the same period of the previous year.

Meanwhile, the group’s net profit for the third quarter in 2021 has increased by 106 percent, after turning from SR109 net losses last year to a net profit of SR 6.2 million.

This comes as the group seeks to come out of the pandemic consequences that have been affecting it all year long.

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