March 30, 2025 - The rise in revenue compared to the previous year is attributed to an increase in operational revenues.
The increase in net profit for this year compared to last year is due to:
First: Participation in a private equity investment fund licensed and managed by SEDCO Capital Company, known as the SEDCO Capital-Ajdan Fairmont Fund. This fund is dedicated to developing a five-star hotel in Al-Khobar, with an investment of 249.4 million riyals, representing 43% of the company's capital. This participation resulted in a reduction in zakat provision for the year.
Second: A 4% increase in operational revenues compared to the previous year.
Third: A 24% reduction in operating costs and expenses compared to last year.
Fourth: A 6% growth in financial returns compared to the previous year.
The previous year's figures have been re-tabulated to align with the current year’s financial presentation.