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.