Riyadh – Mubasher: Dur Hospitality Co reported net profits of SAR 29.1 million ($7.77 million) for the second quarter of 2016, down by 20% from SAR 36.6 million ($9.8 million) for the same period of the previous year.
The company attributed its profits decline to the slowdown of demand as well as the lower revenues reported by number of the company’s properties.
As for the first half of 2016, the company saw net profits of SAR 60.66 million down by 26% from SAR 81.58 million a year earlier.
