Dar Almarkabah for Renting Cars Co. reported a net loss of SAR 74,000 in H1 2024, versus a net profit of SAR 3.3 million in a year-earlier period.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 30.59 | 35.44 | 15.9 % |
| Net Income | 3.28 | (0.07) | (102.3 %) |
| Average Shares | 2.00 | 2.50 | 25.0 % |
| EPS (Riyals) | 1.64 | (0.03) | (101.8 %) |
This was driven by higher general and administrative expenses and increased financing costs as a result of the expansions in the company’s business activities.
Meanwhile, H1 2024 revenues rose 15.9% year-on-year due to the expansion of the fleet and the improvement in the occupancy rates.
Total shareholders’ equity, no minority interest, reached SAR 40.73 million by June 30, 2024, compared to SAR 24.33 million in the prior-year period.
Accumulated losses by June 30, 2024, amounted to SAR 312,501, accounting for 1% of capital.
|
Development of Interim Financials |
|||
|
Period |
Revenue (SAR mln) |
Net Earnings (SAR mln) |
EPS ( SAR/Share) |
|
H1 2022 |
29.65 |
2.95 |
1.48 |
|
H2 2022 |
30.39 |
1.51 |
0.75 |
|
H1 2023 |
30.59 |
3.28 |
1.64 |
|
H2 2023 |
40.39 |
(3.41) |
(1.36) |
|
H1 2024 |
35.44 |
(0.73) |
(0.03) |
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