Riyadh – Mubasher: Saudi Ground Services Company (SGS) turned to net losses valued at SAR 56.58 million for the second quarter (Q2) of 2026, compared to a net profit of SAR 99.37 million in Q2-25.
The company attributed the downturn to a 7.81% decline in quarterly revenue, which fell to SAR 635.15 million from SAR 688.95 million.
The financial performance was pressured by a SAR 74 million increase in operating expenses as the firm maintained readiness for Hajj and Umrah seasons despite lower operational volumes.
Gross profit for the quarter plummeted by 92.64% to SAR 10.16 million. General and administrative expenses also rose by SAR 20.20 million during the period.
For the first half (H1) of 2026, the company maintained a slim net profit of SAR 3.88 million, representing a 98.03% decrease from the SAR 197 million recorded in H1-25.
Half-year revenue reached SAR 1.31 billion, an annual drop from SAR 1.36 billion.
Earnings per share (EPS) for H1-26 dropped to SAR 0.02 from SAR 1.05. Total shareholders' equity stood at SAR 2.59 billion as of 30 June 2026.
In Q1-26, the listed group generated net profits worth SAR 60.45 million, down 38.07% from SAR 97.62 million in Q1-25.
