Riyadh – Mubasher: Saudi Ground Services Company swung to net profits after Zakat and tax valued at SAR 149.85 million in the first nine months (9M) of 2023, against net losses worth SAR 136.71 million in 9M-22.
Revenues amounted to SAR 1.83 billion in 9M-23, up 24.50% year-on-year (YoY) from SAR 1.47 billion, according to the interim financial results.
Earnings per share (EPS) stood at SAR 0.80 in January-September 2023, compared to a loss per share of SAR 0.73 a year earlier.
Financials for Q3-23
During the third quarter (Q3) of 2023, the Saudi company turned profitable at SAR 59.87 million, versus net losses amounting to SAR 50.85 million in Q3-22.
The revenues grew by 16.51% to SAR 646.71 million in Q3-23 from SAR 555.09 million in the year-ago period.
On a quarterly basis, the Q3-23 net profits widened by 19.91% from SAR 49.93 million in Q2-23, while the revenues increased by 3.23% from SAR 626.47 million.
