Riyadh – Mubasher: Saudi Ground Services Company (SGS) posted a 29.7% year-on-year jump in its profits for the third quarter of 2019, registering SAR 120 million.

The company generated SAR 683 million revenues in Q3-19, 2.4% lower from SAR 700 million in Q3-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Sunday.

The Saudi firm attributed the rise in profits in Q3-19 to the reduction in prices.

During the period between January and September, net profits of SGS advanced by 11.57% to SAR 348 million, from SAR 312 million in the same period the year before.

On a yearly basis, total revenues inched down by 2.1% to SAR 1.94 billion in nine months.

By the end of September, profit per share recorded SAR 1.85, compared to SAR 1.66 in September 2018.