Riyadh - Mubasher: Saudi Ground Services Company inked a sharia-compliant bank facility agreement worth SAR 300 million with Banque Saudi Fransi on 15 May 2025, according to a bourse disclosure.

The loan is valid until 30 April 2026, which is subject to a one-year renewal. It is secured by a promissory note.

The company will use the funding to anchor its liquidity position and boost its working capital requirements when needed.

In the three-month period that ended on 31 March 2025, Saudi Ground Services recorded 37.18% higher net profits at SAR 97.62 million, compared to SAR 71.16 million in Q1-24.

Meanwhile, Banque Saudi Fransi logged net profits amounting to SAR 1.33 billion in the first quarter (Q1) of 2025, an annual rise of 16.34% from SAR 1.15 billion.