The net profit of the Saudi Airlines Catering Company “Al-Tamween” increased by 61.76% in the first quarter of 2023, to about 57.1 million riyals, after zakat and tax, compared to about 35.3 million riyals in the first quarter of 2022.
While the net profit of “catering” declined by 46.7% in the first quarter of 2023, compared to a net profit of about 107.1 million riyals in the previous quarter (fourth quarter of 2022).
According to a company statement on “Saudi Tadawul”, today, Wednesday, the increase in net profit in the first quarter of this year, on an annual basis, came due to improved sales, specifically sales of commercial flights, utility services and railways.
It stated that the increase in the number of flights and the growth in commercial operations other than airlines from the catering sectors led to a direct impact on the company’s operations, with an increase in revenues by 32.2% (an amount of 127 million riyals).
The revenues of “Saudi Catering” increased by 32.18% in the first quarter of 2023, to about 521.6 million riyals, compared to 394.6 million riyals in the corresponding quarter of 2022.
