Saudi Ground Services reports flattish net profit as provisions offset higher revenue
Saudi Ground Services (4031.SE) reported KPIs for 4Q2015, with flattish earnings of SAR168.9 million, up 0.5% Y-o-Y (+c1% sequentially on seasonality) as 8% growth in revenue was countered by higher provisioning costs for doubtful debts and zakat. Meanwhile, gross profit grew 37% Y-o-Y to SAR236 million, while operating profit rose 21% Y-o-Y to SAR172.7 million. (Tadawul)
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