According to the results of the company for the Saudi market (Tadawul) today, Thursday, the profits for the period amounted to 1.11 billion riyals, compared to profits of 49 million riyals in the first quarter of 2019. p>
The company said in a statement to the stock exchange that the big jump in profits during the comparison periods is due to the registration of the sale of the group's share in the investment of Karim Company with partial profits amounting to 1.56 billion riyals. p>
She pointed out that, by excluding the exceptional profits, the company had incurred a net loss of 123 million riyals for the first quarter of this year.
She pointed out that the group's revenues decreased by about 22% in the first quarter of 2020, compared to the same quarter of 2019; As a result of the decrease in the total value of reservations, as a result of being affected by the Corona virus pandemic.
Sera said that the car rental business achieved a 145% increase in revenue in the first quarter of 2020, to reach 121 million riyals.
Online business recorded about 600 million riyals in the first quarter of 2020, an increase of 50% compared to the same quarter last year.
The company indicated that the total value of reservations decreased 18% in the first quarter of this year, to reach 1.9 billion riyals, compared to 2.3 billion riyals for the same quarter of 2019; The result of current world events and the outbreak of the Corona virus.
