Riyadh – Mubasher: Saudi Ground Services Company (SGS) posted its interim financial statements for the second quarter of 2019.

Net profits after zakat and tax grew 9.8% to SAR 123.8 million during Q2-19, compared to SAR 112.7 million in Q2-18, according to a bourse filing on Tuesday.

“This increase in net profit is despite a reduction in the revenue by SAR 11.9 million due to price reduction,” the statement highlighted.

Meanwhile, revenues decreased by 1.8% to SAR 648.02 million during the three-month period ended in June, versus SAR 659.9 million in the same period of the prior year.

For the first half of 2019, net profits of the Saudi-based firm levelled up by 3.9% to SAR 227.9 million, from SAR 219.37 million in H1-18.

Total revenues inched down 1.9% year-on-year to SAR 1.25 billion during the six-month period between January and June.

Profit per share registered SAR 1.21 during the first six months of 2019, compared to SAR 1.17 in the corresponding period of FY18.