Riyadh, Saudi Arabia — CATRION Catering Holding Company reported a net profit after Zakat of SAR282.7 million ($75.37 million) for 2023, up 10 percent from SAR257.1 million in 2022.
In a Tadawul disclosure, CATRION said the increase in profit and income (from SAR247.4 million to SAR289.1) is due to an expansion in sales derived from an increase in flight and non-aviation business operations.
CATRION Catering Holding Co, formerly, Saudi Airlines Catering Co (SACC) provides in-flight, retail and other catering services.
The company’s revenue increased from SAR 1.818 billion in 2022 to SAR 2.133 billion in 2023, due to the inflight catering segment as well as non-aviation catering services, such as catering to remote sites and healthcare customers.
However, net profit dropped 35 percent YoY to SAR 69.5 million in Q4 2023.
The company’ board has announced a cash dividend of SAR90 million for the second half of 2023.