Saudi Ground Services’ Profits Surge to SAR 327 Million by End of 2024, Up 54.6%

Saudi Ground Services Company reported a net profit increase of 54.6% for the year ending in 2024, reaching SAR 327 million compared to SAR 211 million in 2023. This announcement follows the release of the company’s annual financial results for the period ending December 31, 2024.

Operating profit rose to SAR 319 million in 2024, compared to SAR 228 million in the previous year, marking a 40% increase.

Total equity, excluding non-controlling interests, reached SAR 2.5 billion by the end of 2024, compared to SAR 2.33 billion in the prior year, reflecting a 9% growth.

Earnings per share stood at SAR 1.74 in 2024, up from SAR 1.12 in 2023.

In a statement on “Tadawul” today, the company reported total revenues of SAR 2,683.8 million for 2024, an increase of SAR 224.9 million or 9.2% compared to the previous year, during which revenues amounted to SAR 2,458.9 million. The revenue growth was primarily driven by increased domestic and international flight activity, as well as a rise in the number of Umrah pilgrims throughout the year.