CATRION Catering Holding (6004) reported Q3 2026 net profit of SAR 43.1 million, down 55.6% year on year, while revenue rose 19.9% to SAR 740.3 million. Nine-month profit fell 27.9% to SAR 171.1 million.
Revenue growth meets margin pressure
Non-aviation activities, including the Red Sea Project, business lounges and healthcare, supported revenue alongside the consolidation of Al Khalejiah Catering from March 2026. Regional disruptions reduced aviation flights, meals and passengers. Higher financing costs and associate losses also weighed on profit.
anb capital retains its existing target
In its November 3, 2026 report, anb capital maintained Overweight and its existing SAR 88 target, with a 12-month valuation horizon. Profit missed its SAR 68.8 million forecast, mainly because gross margin was weaker than expected. This is the research house’s assessment, not a Market News recommendation.
What should investors watch?
Market News focuses on the gap between revenue growth and profitability. anb capital identifies non-aviation operations as the growth driver, while aviation volumes remain the main operating indicator to monitor. The timing and extent of any margin recovery depend on subsequent operating performance.
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