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Budget Saudi posts 5% YoY profit hike in Q1

Budget Saudi posts 5% YoY profit hike in Q1
The profit hike was attributed to the decline in revenue
BUDGET SAUDI
4260
1.95% 31.40 0.60

Riyadh – MubasherUnited International Transportation Company (Budget Saudi) has reported a 5% year-on-year profit increase in the first quarter of 2019, registering SAR 41.6 million.

Budget Saudi attributed the profit hike to the decline in both revenue and cost of finance, according to a bourse statement.

For the full-year 2018, Budget Saudi’s profits rose 13.7%, logging SAR 169.986 million from SAR 149.511 million in 2017.