Riyadh – Mubasher: Saudi Ground Services Company achieved a 54.64% increase in net profit to SAR 327.03 million in 2024 compared to SAR 211.47 million in 2023.
The annual growth in 2024 net profit was primarily driven by SAR 224.90 million increase in revenue compared to the prior year, according to a bourse disclosure.
The earnings per share (EPS) rose to SAR 1.74 in 2024 from SAR 1.12 in 2023.
Saudi Ground Services witnessed a 9.15% surge in revenue to SAR 2.68 billion in 2024 compared to SAR 2.45 billion in 2023. The company attributed the growth to increased domestic and international flights with higher number of Umrah pilgrims across the year.
In the first nine months (9M) of 2024, Saudi Ground Services saw a 54% annual increase in net profit while its revenue rose by SAR 171 million.
