Saudi: CATRION reports 42% rise in 9M-23 net profit

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Riyadh – The net profits of CATRION Catering Holding Company, formerly known as Saudi Airlines Catering Company, reached SAR 213.20 million in the first nine months (9M) of 2023, a surge of 42.13% compared to SAR 150 million in 9M-22.

The revenues soared by 20.96% year-on-year (YoY) to SAR 1.58 billion during the period from January to September 2023, versus SAR 1.31 billion, as per the interim financial results.

The listed entity registered earnings per share (EPS) of SAR 2.60 in 9M-23, compared to SAR 1.83 in 9M-22.

Income Statements for Q3-23

In the third quarter (Q3) of 2023, the Saudi firm recorded net profits after Zakat and tax of SAR 92.30 million, an increase of 29.63% YoY from SAR 71.20 million.

The revenues rose by 12.75% to SAR 566 million in Q3-23, compared to SAR 502 million in the same quarter of the previous year.

On a quarterly basis, the Q3-23 net profits climbed by 44.90% from SAR 63.70 million in Q2-23, while the revenues surged by 13.86% from SAR 497.10 million.

During the first half (H1) of 2023, the company generated SAR 120.90 million in net profit, while its revenues amounted to SAR 1.01 billion.

It is worth noting that the airline firm changed its trade name in October 2023 as part of expansion plans in line with Saudi Arabia’s Vision 2030.