Riyadh – Mubasher: Saudi Airlines Catering Company posted 61.76% higher net profits after Zakat and tax at SAR 57.10 million during the first quarter (Q1) of 2023, compared to SAR 35.30 million in Q1-22.

Revenues amounted to SAR 521.60 million as of 31 March 2023, an annual jump of 32.18% from SAR 394.60 million, according to interim financial results.

The earnings per share (EPS) increased to SAR 0.70 during Q1-23 from SAR 0.43 in the year-ago period.

On a quarterly basis, the Q1-23 net profits shrank by 46.69% from SAR 107.10 million in Q4-22, while the revenues grew by 2.68% from SAR 508 million.

Last year, the net profits after Zakat and tax of Saudi Airlines Catering hiked by 1,729% to SAR 257.10 million, compared to SAR 14.05 million in 2021.