Abdel-Mohsen Al-Hokair Group profits at SAR50 million in 1Q2016
Abdel-Mohsen Al-Hokair Group has released its financial results for 1Q2016. Net income was SAR50.2 million (-12.9% Y-o-Y, +57.4% Q-o-Q). Operating profit was SAR46.4 million (-15.9% Y-o-Y, +68.7% Q-o-Q), while gross profit reached SAR106.6 million (-6.1% Y-o-Y, +16.6% Q-o-Q). Management attributed the quarterly improvement to seasonality and opening of new hotels and entertainment centres during the quarter. (Tadawul)
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