Saudi Ground Services 1Q2016 earnings surge 76% Y-o-Y from low comparable base on higher revenue, margins
Saudi Ground Services (4031.SE) 1Q2016 earnings increased 76% Y-o-Y (+15% Q-o-Q), reaching cSAR195 million 10% revenue growth and a low comparable base, as the company paid out the King-ordered two-month bonus in 1Q2015 (impact of SAR98 million). Margins expanded strongly across the board, with gross and EBIT margin packing on c13pp to 37.9% and 29.9%, respectively. Accordingly, gross profit grew 66% Y-o-Y to SAR259.6 million, while operating profit nearly doubled (+91%) to SAR204.6 million. (Tadawul)
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