Financial Results : Shams profit falls 88% to SAR 726,000 in Q1 2025

Shams profit falls 88% to SAR 726,000 in Q1 2025

15/05/2025 Argaam Exclusive

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Tourism Enterprise Co. (Shams) reported a net profit of SAR 726,000 in Q1 2025, an 88% decline from SAR 6 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 1.39 1.41 1.7 %
Gross Income (0.63) (0.55) 11.7 %
Operating Income (2.21) (2.88) (30.1 %)
Net Income 6.04 0.73 (88.0 %)
Average Shares 1,156.47 1,156.47 -
Earnings Per Share before unusual items (Halala) 0.52 0.06 (88.0 %)
EPS (Halala) 0.52 0.06 (88.0 %)

The profit decline was attributed to the company's investment in acquiring 83% of SEDCO Capital-Ajdan Fairmont Fund despite increased revenues from higher resort revenues.

 

Sequentially, the company turned to profit against a loss of SAR 1.78 million in Q4 2024.

 

Total shareholders’ equity, no minority interest, fell to SAR 504.4 million as of March 31, 2025, from SAR 512.5 million in the corresponding period a year ago.

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