By Asseel bin Talib
Riyadh-Mubasher: Riyadh Almalik, general manager of Saudi Automotive Services Company (SASCO), said his company divested TAQA in the fourth quarter of 2014, which reflected on investment earnings. He added that these were one-off earnings.
SASCO posted SAR 81.38 million net earnings for 2014, soaring 104.47% compared with SAR 39.8 million a year earlier.
Almalik told Mubasher U Program that operating profit rose from SAR 190 million to SAR 454 million from 2009 until 2014, which indicates that the company is boosting its activities through increasing the number of outlets and service stations.
The general manager also said SASCO adopted the divestiture approach to focus on core activities.
When asked about establishing stations on highways, Almalik said SASCO received a qualification certification from the Ministry of Municipal and Rural Affairs. He added that some stations were built on Riyadh-Dammam road and the borders with the UAE and Qatar.
Translated by Abdul Maguid Aboshahla
Photo Credit: Arabianeye-Reuters