The year closed with a healthy balance sheet Abdullah Aldawood, CEO of Seera Group said: "2019 saw our 3 year transformation journey continue with a busy year full of challenges, ambitious targets and new launches | Our consumer travel business had a massive online sales target of SAR 3 |
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Highest ever gross booking value of SAR 10 | The online business posted SAR 3 |
Net profit after Zakat and tax before NCI of SAR 189 million for fiscal year FY 2019, compared to a net loss of SAR 142 million a year earlier.
9Consumer travel increased market share through innovative product enhancements including the roll out of an omni channel offering though dedicated retail travel stores, the implementation of Whats App business as a tool for booking and customer information and also launching an online wallet for repeat customers | We will continue to monitor the macro situation closely and manage the company in a responsible manner, taking sensible steps to adapt where required |
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Our UK business, Portman Travel Group continued its acquisition strategy of buying complementary and sector specialist businesses, adding If Only — a luxury long haul B2B travel specialist• Consumer Travel recorded SAR 3 | Group Revenue declined marginally by 4 |
" " The year closed with a healthy balance sheet and a more diversified revenue stream in travel, hospitality and car rental services.
17Overall, the impact of the non renewal of the Ministry Of Education contract was offset by the strong and consistent growth in consumer travel and car rental units | |
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Group Net Profit after Zakat and Tax before NCI of SAR 189M for FY2019, compared to a loss of SAR 142M a year earlier | 8 billion GBV, its highest ever |
Most notably the successful exit from Careem as it was acquired by Uber.
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