Riyadh – Mubasher: United International Transportation Company (Budget Saudi) registered net profits after Zakat and tax worth SAR 186.92 million in the first nine months (9M) of 2022, an annual increase of 11.53% from SAR 167.59 million.

Revenues amounted to SAR 774.94 million in the January-September 2022 period, up 7.60% year-on-year (YoY) from SAR 720.22 million, according to the interim financial results.

The earnings per share (EPS) stood at SAR 2.63 in 9M-22, higher than SAR 2.35 in 9M-21.

During the third quarter (Q3) of 2022, Budget Saudi posted a 28.04% hike in net profit after Zakat and tax to SAR 64.16 million, compared to SAR 50.11 million in Q3-21.

The revenues soared by 17.77% YoY to SAR 295.40 million in Q3-22 from SAR 250.82 million.

On a quarterly basis, the Q3-22 net profits after Zakat and tax rose by 2.70% from SAR 62.48 million in Q2-22, while the revenues widened by 27.74% from SAR 231.24 million.

In the first half (H1) of 2022, the Saudi firm generated SAR 122.80 million in net profit after Zakat and tax, a growth of 4.50% from SAR 117.50 million in H1-21.