Saudi Arabia-listed Perfect Presentation for Commercial Services (2P) has renewed a banking deal for up to SAR 135 million ($35.99 million) in financing.

The Shariah-compliant facility with Gulf International Bank, which is valid until October 30, 2026, will help the company execute new contracts and projects. 

Perfect requires new funds for issuing letters of guarantees, letters of credit and invoice financing, it said on Tuesday.

During the first nine months of the year, the company reported SAR 875.6 million in revenues, up by 12.9 %, and a net profit of SAR 100.1 million.

(Writing by Cleofe Maceda ; editing by Seban Scaria) seban.scaria@lseg.com