Financial Results : SAPTCO net profit rises 73% in FY19

SAPTCO net profit rises 73% in FY19

24/03/2020 Argaam Exclusive

View other reports

Saudi Public Transport Co. (SAPTCO) reported a net profit of SAR 35.3 million for the fiscal year 2019, up 73% year-on-year (YoY), as compared to a profit of SAR 20.4 million a year earlier.



Financials (M)

Item 2018 2019 Change‬
Revenues 1,455.45 1,711.89 17.6 %
Gross Income 171.93 219.37 27.6 %
Operating Income 20.59 49.27 139.3 %
Net Income 20.42 35.32 73.0 %
Average Shares 125.00 125.00 -
EPS (Riyals) 0.16 0.28 73.0 %

The rise in net profit is due to higher operating income on the back of increase in the subsidiary revenues, despite higher expenses and decrease in the value of assets held for sale.

 

Higher profit is also attributed to an increase in profit share from an associate.

 

Total comprehensive income for 2019 increased 57.6% YoY to SAR 48.77 million from SAR 27.53 million in the previous year.

 

The company implemented IFRS 16 from Jan. 1, 2019 and there was no impact on the financial results.

 

In Q4 2019, the company reported net loss of SAR 41.6 million, compared to a loss of SAR 39.3 million in the same period of 2018.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 430.97 386.66 (10.3 %)
Gross Income (0.89) 14.91 1775.5 %
Operating Income (59.89) (35.83) 40.2 %
Net Income (39.30) (41.56) (5.8 %)
Average Shares 125.00 125.00 -
EPS (Riyals) (0.31) (0.33) (5.8 %)

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.