Riyadh – Mubasher: Seera Group Holding registered net losses after Zakat and tax worth SAR 77 million in the first nine months (9M) of 2022, down 74.50% year-on-year (YoY) from SAR 302 million.

Revenues amounted to SAR 1.62 billion in the January-September 2022 period, a hike of 93.46% from SAR 841 million in 9M-21, according to the initial financial results.

The loss per share settled at SAR 0.27 in 9M-22, lower than SAR 1.02 in the year-ago period.

During the third quarter (Q3) of 2022, Seera turned profitable at SAR 54 million, against net losses after Zakat and tax worth SAR 72 million in Q3-21.

The revenues widened by 53.12% YoY to SAR 565 million in Q3-22 from SAR 369 million.

On a quarterly basis, the Tadawul-listed firm also swung to earnings in Q3-22, compared to net losses after Zakat and tax valued at SAR 68 million in Q2-22.

Meanwhile, the Q3-22 revenues edged down by 0.70% from SAR 569 million in Q2-22.

Seera’s CEO, Majed Alnefaie, said: “Seera’s return to profit following the challenges of the pandemic illustrates the incredible recovery of travel and our strategic positioning to capitalise on the pent-up demand.”

Alnefaie added: “We are committed to further growing our businesses to serve the travel and tourism needs of the Kingdom and drive forward sustainable long term profitability of the group.”

In 6M-22, the company’s net losses after Zakat and tax amounted to SAR 131 million, an annual drop of 43.04% from SAR 230 million.