Seera Holding Group posted a net profit after Zakat and tax of SAR 189 million for fiscal year (FY) 2019, compared to a net loss of SAR 142 million a year earlier.
The profit was attributed to an increase in gross booking volume of SAR 10.8 billion with a 49% growth in consumer travel, and a 64% growth in online business, it said in a bourse statement.
The company also cited the impact of the non-renewal of the Ministry of Education contract as it was offset by the strong and consistent growth in consumer travel and car rental units.
The revenue for FY2019 reached SAR 2.19 billion as compared to SAR 2.3 billion in FY2018, showing a decrease of 5%.
In Q4 2019, the company posted a net profit of SAR 13.49 million as compared to SAR 20.62 million, a decrease by 34.6%
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