Saudi Ground Services posts lower losses at $65.2mln in 2022

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In the first nine months of 2022, Saudi Ground Services reported a 10.84% YoY decline in net losses

Staff Writer, Mubasher

March 27, 2023

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Riyadh – Saudi Ground Services Company registered net losses after Zakat and tax worth SAR 244.48 million in 2022, down 3.90% year-on-year (YoY) from SAR 254.41 million.

Loss per share amounted to SAR 1.30 last year, versus SAR 1.35 in 2021, according to the annual financial results.

The company posted revenues worth SAR 1.97 billion in the January-December 2022 period, higher by 22.95% than SAR 1.60 billion a year earlier.

In the first nine months (9M) of 2022, Saudi Ground Services reported a 10.84% YoY decline in net losses after Zakat and tax to SAR 136.71 million from SAR 153.34 million.

Revenues increased by 26.28% SAR 1.47 billion in 9M-22 from SAR 1.16 billion, while the loss per share retreated to SAR 0.73 from SAR 0.82 in 9M-21.

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