Saudi Ground Services posts SAR 56.6m loss in Q2, finance professor explains

Saudi Ground Services disclosed a SAR 56.6 million loss for the second quarter, a financial figure that finance professor Abdullah Al-Salloum of Imam Muhammad ibn Saud Islamic University found noteworthy compared to peers in the sector. Al-Salloum noted that the company's performance was among the most significant among its competitors during the same period, highlighting the influence of ongoing geopolitical conditions on the company's operating costs.

Speaking to Al Ekhbariya TV, the professor explained that these conditions had a greater impact on Saudi Ground Services than on other companies in the aviation industry, noting that others were less affected during the same period. He emphasized that higher operating costs were a primary factor contributing to the company's financial results, but stressed the necessity of the company providing further clarification on the reasons behind the increased costs in the second quarter.

Al-Salloum suggested that more detailed disclosure of cost items and the specific factors driving the increase would help elucidate the losses, particularly given the varied impact across companies in the aviation sector.