Riyadh – Saudi Automotive Services Company (SASCO) reported net profits after Zakat and tax worth SAR 8.02 million during the first quarter (Q1) of 2022, an annual decline of 33.22% from SAR 12.01 million.

Earnings per share went down to SAR 0.13 in Q1-22 from SAR 0.2 in January-March 2021 period, according to the interim financial results on Sunday.

Revenues soared by 69.54% to SAR 1.27 billion in Q1-22 from SAR 750.54 million in Q1-21.

On a quarterly basis, the net profits in Q1-22 were 47.75% down from SAR 15.35 million in Q4-21, while the revenues increased by 4.78% from SAR 1.21 billion.

Last year, SASCO achieved net profits worth SAR 50.84 million, compared to SAR 40.13 million in 2020.

Source: Mubasher

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