Riyadh – The net profits of the United International Transportation Company (Budget Saudi) rose by 4.5% year-on-year (YoY) in the first half (H1) of 2022 to SAR 122.8 million, from SAR 117.5 million in the year-ago period.

Earnings per share (EPS) stood at SAR 1.72 during H1-22, compared with SAR 1.65 during H1-21, according to the interim financials on Sunday.

Revenue reached SAR 479.5 million during the six-month period ended in June 2022, a YoY increase of 2.2% from SAR 469.4 million.

In the second quarter (Q2) of the year, the Saudi firm’s net earnings dropped by 9.7% YoY to SAR 62.5 million, whilst revenue inched down by 0.5% on an annual basis to SAR 231.2 million.

In a separate statement, the company said its board approved distributing SAR 35.6 million in interim cash dividends to shareholders for H1-22.

The approved amount is equal to SAR 0.5 per share or 5% of the share’s par value.

It is worth mentioning that in Q1-22, Budget Saudi recorded a 24.72% annual jump in net profit to SAR 60.27 million, from SAR 48.32 million.

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