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

Saudi Ground Services Company reported a loss of 56.6 million riyals (SAR) in the second quarter, a financial result described by Abdullah Al-Salloum, professor of finance at Imam Muhammad ibn Saud Islamic University, as notable compared to other companies during the same period.

Speaking to Al Ekhbariya TV, Al-Salloum said the company's financial results were among the most prominent in the second quarter, noting that current geopolitical conditions contributed to higher operating costs.

The finance professor explained that the impact of these conditions appeared more pronounced for Saudi Ground Services than for other companies in the aviation sector, emphasizing that other firms in the industry were less affected during the same period.

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Al-Salloum pointed out that rising operating costs are a key factor in explaining the company's financial results, but also stressed the need for the company to provide further clarification on the reasons behind the increased costs in the second quarter.

He added that more detailed disclosure of cost items and the factors driving the increase would help explain the losses, especially given the varying impact across aviation sector companies.