Nine hospitality ASE-registered companies have 65% more losses than in 2021

(Photo: Jordan News)
AMMAN — The losses of the nine companies listed on the Amman Stock Exchange in the hotel and tourism sector decreased in 2021 by 65 percent compared to 2020, shows research done by Sanabel Al-Khair for Financial Investments, according to Al-Ghad news.اضافة اعلان

The losses after tax in 2021 amounted to JD11.5 million, compared to JD33.1 million in the year before.

Eight of these companies suffered losses, while one was profitable.

According to the World Tourism Organization, the tourism sector is one of the sectors most affected by the pandemic, and the last to recover, as it may need two to four years to return to the pre-pandemic level.

The number of public joint-stock companies that complied with the law and disclosure instructions in terms of providing the Jordan Securities Commission with their preliminary business results reports for the year 2021 or audited annual financial statements within the specified legal period (45 days from the end of its fiscal year as a maximum) reached 198 out of 229 companies, or 86.5 percent.

The commission stressed the importance of companies’ commitment to the laws in force, and called on companies that are not committed to abiding by them to work to project a positive image of companies to attract investment and thus enhance their competitiveness and earn the confidence of local and foreign investors.

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