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Saudi transport sector profits down 14%

Saudi transport sector profits down 14%
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Riyadh – Mubasher: Quarterly profits by the transportation sector on the Saudi Stock Exchange (Tadawul) declined by 14.2% in the third quarter of the year, according to a survey by Mubasher.

For the nine-month period that ended 30 September, profits decreased by 30.6% year-on-year. 

Profits went down by SAR 246 million, compared with SAR 286.7 million in Q3-17. 

Five listed companies showed a decline in earnings to a total of SAR 530 million in the three quarters, compared with SAR 763.7 million for the corresponding period in the year before. 

Saudi Public Transport reported the biggest earnings at SAR 95.34 million, nearly 39% of the sector’s total in the third quarter, increasing by 50.6% on an annual basis.