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Katrion's profits fall to 47.56M Riyals
Catrion Catering Company's preliminary financial results reveal a decrease in profits during the second quarter of 2026, with net profit declining by 27.26% to reach 47.56 million riyals, compared to 65.38 million riyals in the same period of the previous year. Despite this, the company's revenues increased by 20.4% to 688.1 million riyals, supported by growth in the revenues of non-aviation service sectors and the consolidation of Gulf Catering's results following its acquisition in March 2026. The company attributes the profit decline to regional disruptions that impacted airline catering operations, along with higher funding costs and credit loss provisions. Earnings per share dropped to 0.58 riyals from 0.80 riyals in the same quarter of the previous year. On a semi-annual basis, the company achieved a net profit of 128 million riyals, representing an 8.7% increase compared to last year.
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