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Saudi Airlines Catering annual profit up 1%

Saudi Airlines Catering annual profit up 1%
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Riyadh – Mubasher: Saudi Airlines Catering Company reported a 1% growth in net profit for 2019, as shown by the company’s annual financial results.

The net profit after Zakat and tax amounted to SAR 463.9 million last year, compared with SAR 459.3 million in 2018.

The main reasons for the increase in net profit were higher sales and a reduction in costs, such as the cost of materials, goods, and personnel.

Moreover, the company disclosed that there are no accumulated losses as of the end of 2019.

Saudi Airlines Catering further announced that its Board of Directors has endorsed on Tuesday the approval of the distribution of SAR 114.8 million in cash dividends to the shareholders for the third quarter (Q3) of 2019, at SAR 1.4% per share, or 14% of the share's par value.