Saudi Airlines Catering Company has turned to net profits after Zakat and tax of SAR 78.80 million during the first half (H1) of 2022, versus net losses of SAR 47.50 million in H1-21.

The company generated sales worth SAR 808.10 million during the January-June 2022 period, an annual leap of 57.40% from SAR 513.40 million, according to a bourse disclosure on Tuesday.

The earnings per share (EPS) stood at SAR 0.96 in H1-22, against a loss per share of SAR 0.58 in H1-21.

During the second quarter (Q2) of 2022, the firm reported net profits worth SAR 43.50 million, compared to losses of SAR 17.40 million in Q2-21.The sales jumped by 60.79% to SAR 413.40 million in Q2-22 from SAR 257.10 million in Q2-21.

Meanwhile, Saudi Airlines Catering registered accumulated losses worth SAR 115 million as of H1-22, accounting for 14% of the SAR 820 million capital.

In the first three months (3M) of 2022, the Saudi company’s net profits after Zakat and tax amounted to SAR 35.30 million, versus losses of SAR 30 million in the year-ago period.