Riyadh – Mubasher: Saudi Ground Services Co (SGS) reported a decrease of 19.3% in profits of the first quarter of 2017.
Net profits reached SAR 155.12 million in Q1-17 compared to SAR 192.14 million in Q1-16.
The decrease in net profits was attributable to lower revenues due to price reduction and changes in aircraft type mix, according to a bourse filing on Wednesday.
Total revenues fell 6.1% to SAR 643 million in Q1-17 compared to SAR 685 million in the year-ago period.
