Riyadh – Mubasher: Seera Group has reported a net profit of SAR 189 million in 2019, against net losses of SAR 142 million in 2018, according to the company’s annual financial statements for last year.

The rise in net profits is attributed to a 2% increase in the gross booking value (GBV) to SAR 10.8 billion in 2019, from SAR 10.6 billion in the previous year.

Consumer travel saw a 49% hike to SAR 3.9 billion in last year's GBV, from SAR 2.6 billion in 2018.

Meanwhile, the company’s revenues declined by 4.82% to SAR 2.190 million in 2019, compared to SAR 2.301 million during the earlier year.

The company’s profits per share stood at SAR 0.62, compared to losses per share of SAR 0.48.

It is noteworthy to mention that during the third quarter of 2019, the company turned profitable to achieve net profits of SAR 64 million when compared to the same period of 2018.