Alhokair Group has trimmed down its loss by 49 percent to $18 million in the first half of 2022, from $35.39 in the same period of last year.
The hospitality group recorded a 6.4 percent rise in revenue to $93.66 million that helped to bring down the group’s loss.
Alhokair saw growth across its different units during the six-month period, recording higher revenue from the hotel and entertainment sectors by 4.6 percent and 9.2 percent, respectively.
The group’s accumulated losses reached 52.1 percent of capital by June end, which it attributed to pandemic repercussions and the emergence of the Omicron variant.