Riyadh – Mubasher: Saudi Airlines Catering Co on Wednesday reported a 5% year-on-year profit decrease during the full-year 2018.

The company’s profits after calculating Zakat and Tax reached SAR 459.3 million ($122.45 million) last year, down from SAR 481.7 million ($128.42 million) a year earlier, according to a statement to the Saudi Stock Exchange (Tadawul).

Saudi Airlines Catering attributed the 2018 profit decline to the retail sector’s challenges.

Operating profits slid 6% to SAR 505.6 million last year, from SAR 535.4 million in 2017.

Earnings per share (EPS) amounted to SAR 5.6 in 2018, down from SAR 5.87 in the previous year.

On the other hand, revenues rose 4.26% to SAR 2.03 billion from January to December 2018, compared to SAR 1.95 billion in the year before.

Saudi Airlines Catering Co’s stock levelled down 0.47% to close Wednesday's trading session at SAR 84.