Seera turns to SAR 189 mln profit in FY2019

03/03/2020 Argaam Exclusive

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Seera Holding Group posted a net profit after Zakat and tax of SAR 189 million for fiscal year (FY) 2019, compared to a net loss of SAR 142 million a year earlier.

Financials (M)

Item	2018	2019	Change‬
Revenues	2,301.33	2,190.25	(4.8 %)
Gross Income	1,427.01	1,273.00	(10.8 %)
Operating Income	580.76	350.94	(39.6 %)
Net Income	(144.96)	185.59	228.0 %
Average Shares	300.00	300.00	-
EPS (Riyals)	(0.48)	0.62	228.0 %

The profit was attributed to an increase in gross booking volume of SAR 10.8 billion with a 49% growth in consumer travel, and a 64% growth in online business, it said in a bourse statement.

The company also cited the impact of the non-renewal of the Ministry of Education contract as it was offset by the strong and consistent growth in consumer travel and car rental units.

The revenue for FY2019 reached SAR 2.19 billion as compared to SAR 2.3 billion in FY2018, showing a decrease of 5%.

In Q4 2019, the company posted a net profit of SAR 13.49 million as compared to SAR 20.62 million, a decrease by 34.6%

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	565.42	593.90	5.0 %
Gross Income	311.88	280.26	(10.1 %)
Operating Income	113.37	97.96	(13.6 %)
Net Income	17.66	10.08	(42.9 %)
Average Shares	300.00	300.00	-
EPS (Riyals)	0.06	0.03	(42.9 %)

Item	Q3 2019	Q4 2019	Change‬
Revenues	641.98	593.90	(7.5 %)
Gross Income	349.24	280.26	(19.8 %)
Operating Income	98.27	97.96	(0.3 %)
Net Income	63.03	10.08	(84.0 %)
Average Shares	300.00	300.00	-
EPS (Riyals)	0.21	0.03	(84.0 %)

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