Catroon's profits fall to 47.56M Riyals
Caterion Catering Company recorded a decline in its net profits during the second quarter of 2026 by 27.26% year-on-year, reaching 47.56 million riyals, despite a 20.4% growth in its revenues to 688.1 million riyals, due to diversification of income sources, including non-aviation projects such as the Red Sea project, as well as the completion of its acquisition of the Gulf Catering Company. The primary reasons for the profit decline are attributed to regional disturbances that led to a decrease in flights and airline catering meals, along with rising financing costs and expenses related to credit loss provisions, which impacted profit margins. Additionally, the company reported semi-annual profits of 128 million riyals, a slight decrease of 8.7% compared to the same period last year.
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