Saudi Ground Services reports leap in H1-24 profits to $149.5mln

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The net profits of Saudi Ground Services Company hiked by 66.26% to SAR 149.59 million in the first half (H1) of 2024 from SAR 89.97 million in H1-23.

The company posted 12.54% year-on-year (YoY) higher revenues at SAR 1.33 billion in H1-24, compared to SAR 1.19 billion, according to the financial results.

Earnings per share (EPS) grew to SAR 0.80 as of 30 June 2024 from SAR 0.48 in the year-ago period.

Financials for Q2-24

In the second quarter (Q2) of 2024, the net profits reached SAR 78.43 million, marking an annual leap of 57.07% from SAR 49.93 million.

Revenues climbed by 9.58% YoY to SAR 686.51 million in April-June 2024 from SAR 626.47 million.

Quarter-on-quarter (QoQ), the profits in Q2-24 surged by 10.21% from SAR 71.16 million in Q1-24, while the revenues rose by 5.10% from SAR 653.19 million.