Maharah’s Q2 2019 earnings backed by higher revenue: CEO

Maharah Human Resource Co. has reported robust financial results in Q2 2019 due to a 9 percent revenue increase, stated Chief Executive Officer, Yousef Alghafari in a statement.

The profit jump was driven by 12 percent growth in business segment in addition to the retail division’s sustainable strong performance, boosted by a 21 percent rise in revenue from Khidma Online application. 

“We will invest our expertise to bolster the human resources segment in Saudi Arabia and GCC,” stated Alghafari.

Maharah’s Q2 net profit after zakat and tax rose 25 percent YoY to SAR 72 million due to higher revenue, increase in gross profit, and higher other income.

On a sequential basis, Q2 net profit jumped 33.3 percent compared to the previous quarter.