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Saudi Airlines Catering Co. announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 521.6 | 394.6 | 32.18 | 508 | 2.68 |
| Gross Profit (Loss) | 142.6 | 103.1 | 38.31 | 152.7 | -6.61 |
| Operational Profit (Loss) | 65.2 | 46.1 | 41.43 | 98.2 | -33.6 |
| Net Profit (Loss) after Zakat and Tax | 57.1 | 35.3 | 61.76 | 107.1 | -46.69 |
| Total Comprehensive Income | 57.1 | 35.3 | 61.76 | 97.4 | -41.38 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 1,136.1 | 907.8 | 25.15 |
| Profit (Loss) per Share | 0.7 | 0.43 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The profit after Zakat and tax for the period quarter 1, 2023 amounts to SAR 57.1 million as compared total profit after Zakat and tax of SAR 35.3 million reported in previous year due to improved sales from inflight, remote sites and railways catering services. The increase in number of flights and growth in customer’s trading from non-aviation catering segments led to a direct impact on the company's operations with an increase of revenue by 32.2% (amounting to SAR 127.0 million). |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | The profit after Zakat and tax decreased by 46.7% to SAR 57.1 million from SAR 107.1 million; however the turnover in quarter 1, 2023 has increased by 2.7% to SAR 521.6 million from SAR 508.0 million from quarter 4, 2022. The increase in turnover is mainly due to growth in other non-aviation business operations. Whereas the decrease in profit in quarter 1, 2023 compared to quarter 4, 2022 is due to reversal of impairment over investment in associate and termination of lease which occurred in the 4th quarter of the year 2022. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | NA |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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