Seera Holding Group's losses decreased by 60% to 72 million riyals in the third quarter of 2021, compared to a loss of 180 million riyals in the same quarter of the previous year.
According to Arabia Net, on a quarterly basis, the group's losses decreased in the third quarter by 26.5%, compared to a loss of 98 million riyals in the second quarter of 2021.< /p>
In the first nine months of the year 2021, the company turned to record losses of 302 million riyals, compared to profits of 753 million riyals in the corresponding period of 2020.
The group said in a statement on Tadawul Saudi Arabia, today, Wednesday, that the total volume of group bookings witnessed a significant increase compared to the third quarter of 2020, by 112% for the third quarter. From 2021 to 1.4 billion riyals, compared to 669 million Saudi riyals in the third quarter of 2020.
The Seera Group also recorded a 520% increase in gross profit across various business units, compared to the third quarter of 2020, driven by a marked recovery in domestic and international travel and demand for Summer travel compared to pre-pandemic levels.
With the borders open at a large rate, travel restrictions eased, and vaccination campaigns nearing completion in the Kingdom, travelers have benefited from the summer season to explore in their country, as the increase in Reservations across group units from individual travel, car rental and beyond. As a result of continuous investment in local and in-house product delivery, technology and infrastructure.
The group saw growth across travel products, increasing revenue by 160% compared to the third quarter of 2020 and 29% compared to the previous quarter of this year.
Revenues of the car rental unit in Seera grew 35% to reach 140 million riyals in the third quarter of 2021, compared to 104 million riyals in the third quarter of 2020 under the Lumi brand umbrella.
