Riyadh – Mubasher: Saudi Ground Services Company shifted to net profits after Zakat and tax amounting to SAR 89.97 million in the first half (H1) of 2023, against net losses valued at SAR 85.86 million in H1-22.
Revenues hiked by 29.31% year-on-year (YoY) to SAR 1.19 billion as of 30 June 2023 from SAR 920.50 million, according to the initial income statements.
The earnings per share (EPS) hit SAR 0.48 in the first six months (6M) of 2023, compared to a loss per share of SAR 0.46 a year earlier.
Financial Results for Q2-23
In the second quarter (Q2) of 2023, the listed firm also turned profitable at SAR 49.93 million, versus losses of SAR 66.85 million in Q2-22.
The revenues stood at SAR 626.47 million in the April-June 2023 period, an annual leap of 26.38% from SAR 495.70 million.
On a quarterly basis, the profits in Q2-23 increased by 24.70% from SAR 40.04 million in Q1-23, while the revenues grew by 11.10% from SAR 563.86 million.
