Budget Saudi H1 2023 profit up 14% to SAR 139.6 mln; Q2 at SAR 70.3 mln

27/07/2023 Argaam Exclusive

View other reports

Share Price

United International Transportation Co.
79.30
(1.30) (1.61 %)

United International Transportation Co. (BUDGET SAUDI)

More

United International Transportation Co. (Budget Saudi) reported a 14% increase in H1 2023 net profit to SAR 139.6 million, from SAR 122.8 million in the year-earlier period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 479.55 639.26 33.3 %
Gross Income 178.45 216.95 21.6 %
Operating Income 119.00 147.02 23.5 %
Net Income 122.75 139.60 13.7 %
Average Shares 71.17 71.17 0.0 %
EPS (Riyals) 1.72 1.96 13.7 %

The profit growth was mainly spurred by higher sale proceeds from used cars and resultant gains, along with better lease and rental revenues as the result of growth in the fleet with consistently improved utilization.

 

The company reported a net profit of SAR 70.28 million in Q2 2023, a 12.5% year-on-year (YoY) increase.

 

Sequentially, net profit rose 1.4% from SAR 69.32 million in Q1 2023.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Revenues 231.25 340.55 47.3 %
Gross Income 91.57 112.94 23.3 %
Operating Income 61.55 76.57 24.4 %
Net Income 62.48 70.28 12.5 %
Average Shares 71.17 71.17 0.0 %
EPS (Riyals) 0.88 0.99 12.5 %

Total shareholders’ equity, no minority interest, stood at SAR 1.75 billion as of June 30, 2023, compared to SAR 1.62 billion a year earlier.

 

View More Financial Results

 

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.