Budget Saudi announces $44.8mln net profits in nine months

Revenues grew by 6% YoY

  
A Saudi man stands in front of a screen as another inspects stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019. Image for illustrative purposes.

A Saudi man stands in front of a screen as another inspects stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019. Image for illustrative purposes.

REUTERS/Ahmed Yosri
Riyadh –  United International Transportation Company (Budget Saudi) achieved a year-on-year (YoY) increase in net profits after Zakat and tax at SAR 168.19 million during the first nine months of 2021 compared to SAR 108.48 million.

Earnings per share rose to SAR 2.36 at the end of September 2021 from SAR 1.52 in the same period a year ago, according to the initial financial results on Sunday.

Revenues grew by 6% YoY to SAR 733.52 million in January-September 2021 from SAR 691.98 million.

During the third quarter (Q3) of 2021, Budget Saudi recorded 40% YoY surge in net profits to SAR 56.77 million from SAR 40.45 million.

Revenues soared 11.9% to SAR 254.96 million in Q3-21 from SAR 227.65 million in Q3-20.

On a quarterly basis, the net profits in Q3-21 were 0.9% higher than SAR 56.25 million in Q2-21, and the revenues rose by 7.5% from SAR 237.13 million.

Source: Mubasher

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