Catering’s accumulated losses dropped by 19.3% of capital

Saudi Arabian Catering announced on Monday the decrease in the Company’s accumulated losses, as the accumulated losses decreased from -23.60% for the year ended in December 31, 2021 to -19.29% as on March 31, 2022 from the current capital of 820,000,000 Saudi riyals.

The company said that the gradual resumption of flights due to easing restrictions imposed by the Covid 19 pandemic had a direct impact on its operations, leading to profitability and reduced accumulated loss to 19.3-% of capital as of March 31, 2022.

Despite the challenges of post-pandemic flourishing, Saudi Arabian Catering Company Continues to implement several initiatives to improve operational efficiency and improve costs to raise its profitability