Riyadh - Mubasher: Tourism Enterprise Company (Shams) logged net profits worth SAR 726,231 in the first quarter (Q1) of 2025, marking an 87.98% year-on-year (YoY) drop from SAR 6.04 million.
Meanwhile, the revenues grew by 1.67% YoY to SAR 1.41 million in Q1-25 from SAR 1.38 million, according to the financial results.
The earnings per share (EPS) stood at SAR 0.001 as of 31 March 2025, compared with SAR 0.005 in Q1-24.
On a quarterly basis, the company turned profitable in Q1-25 when compared to net losses of SAR 1.77 million in October-December 2024, while the revenues retreated by 60.67% from SAR 3.58 million.
At the end of December 2024, Shams shifted to net profits valued at SAR 6.38 million, against net losses of SAR 44.19 million in 2023.
The revenues increased by 3.86% YoY to SAR 9.97 million in 2024 from SAR 9.60 million.
The EPS hit SAR 0.01 last year, versus a loss per share of SAR 0.04 in 2023.
In the first half (H1) of 2024, Shams registered 125.64% higher net profits at SAR 6.91 million, compared with SAR 3.06 million in H1-23.
