180 million riyals, "Seera Holding" losses in the third quarter

Seera Holding Group incurred losses of 180 million in the third quarter of this year, compared to profits of 64 million riyals in the same quarter of last year.

According to Arabiya Net, the group's profits during the 9-month period rose to 760 million riyals by the end of the first nine months of 2020, compared to 180 million riyals in the same period last year. .

The company attributed the reason for incurring quarterly losses to a decrease in the total value of reservations by 81% in the third quarter of 2020 to reach 669 million Saudi riyals, compared to 3.5 billion Saudi riyals for the same quarter of the previous year 2019.

The reason for the decrease is due to the precautionary measures due to the outbreak of the new Coronavirus (COVID-19), which affected the travel and tourism sector directly.

The total value of reservations in the individual travel sector amounted to 219 million Saudi riyals in the third quarter of 2020, compared to 1.6 billion Saudi riyals for the same quarter of the previous year 2019, A decrease of 87%.

The corporate and government sector travel reservations department witnessed a 77% decrease in the total value of reservations for the third quarter of 2020, compared to the same quarter of the previous year 2019, which recorded 204 Millions of Saudi riyals of the total value of reservations in the third quarter of 2020.

The car rental business also achieved a 34% increase in revenues in the third quarter of 2020 to reach 104 million Saudi riyals, due to the increase in leasing contracts with companies And the government sector.

The hospitality business has also achieved 8 million Saudi riyals, representing a decrease of 82% from the previous period.

and Hajj and Umrah businesses did not record any revenues during the third quarter of 2020 compared to 53 million Saudi riyals in the same quarter of the previous year 2019. The decrease is due to the precautionary measures Taken due to the outbreak of the Coronavirus.

The group's revenues decreased by 78% in the third quarter of 2020, compared to the same quarter of the previous year 2019, and the reason for this is the decrease in the total value For bookings affected by the Corona pandemic.