Gulf Hotels Group announces its financial results for the period ended 31 st Dec 2020.

Gulf Hotels Group announces its financial results for the period ended 31 st Dec 2020.

Gulf Hotels Group B.S.C. (GHG) during the Fourth Quarter of 2020 reported the net Loss of BD 3.446 compared to a profit of BD 1.733 million in the fourth quarter of the previous year, with a decrease of 5.180 million. Loss per shares is 15 fils compared to earnings of 7 fils in the fourth quarter of last year.



Total comprehensive loss of BD 2.940 Million, compared to a profit of BD 1.764 Million for the fourth quarter of the previous year, with a decrease of BD 4.704 Million.



Gross Profit of BD 2.058 Million, compared to BD 4.873 Million for the same period in last year, with a decrease of BD 2.815 Million or 57.75%



Revenue of fourth-quarter BD 4.938 Million, compared to BD 10.455 Million for the same period in last year, with a decrease of BD 5.517 million or 52.77 %.



The decrease in the net profit for the fourth quarter in comparison to the same period last year resulted mainly from decreases in revenue due to various restrictions introduced to combat the spread of Covid-19 that have had an impact on the hospitality industry in general and have limited the normal operation of the Group's