Riyadh – Mubasher: United International Transport’s (Budget Saudi Arabia) net profits rose 2.26% year-on-year to SAR 46.65 million ($12.44 million) in the second quarter of 2016 from SAR 45.62 million ($12.16 million).

The increase in the company’s Q2-16 net profits is attributed to the growth in used cars sales’ profits and long-term rental’s revenues, against the decrease in short-term rental’s revenues, according to a bourse filing on Wednesday.

The company’s net profits also levelled up 6.07% to SAR 95.9 million in the first half of 2016 from SAR 90.41 million in the same period of 2015.