Budget Saudi’s profits up 13% in 9M-23

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Riyadh: United International Transportation Company (Budget Saudi) posted 12.94% higher net profits after Zakat and tax at SAR 211.10 million in the first half (H1) of 2023, versus SAR 186.92 million in 9M-22.

The earnings per share (EPS) hit SAR 2.97 in 9M-23, up year-on-year (YoY) from SAR 2.63, according to the interim financial results.

Revenues surged by 30.12% YoY to SAR 1 billion as of 30 September 2023 from SAR 774.94 million.

Financials for Q3-23

In the third quarter (Q3) of 2023, Budget Saudi generated net profits after Zakat and tax amounting to SAR 71.50 million, an annual rise of 11.43% from SAR 64.16 million.

The company’s revenues stood at SAR 369.07 million during the July-September 2023 period, up 24.94% YoY from SAR 295.40 million.

On a quarterly basis, the Q3-23 net profits grew by 1.73% from SAR 70.28 million in the April-June 2023 period, while the revenues increased by 8.37% from SAR 340.55 million.