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SASCO’s Q3 profits shrink 35%

SASCO’s Q3 profits shrink 35%
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SASCO
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Riyadh – Mubasher: Saudi Automotive Services Company (SASCO) posted a decrease of 34.6% year-on-year (YoY) in net profits after Zakat and tax to SAR 11.4 million during the third quarter (Q3) of 2021 from SAR 17.45 million.

Revenues soared by 94.4% YoY to SAR 1.14 billion in Q3-21 from SAR 586.83 million, according to the initial financial results on Wednesday.

The Q3-21 profits were 5.6% lower than SAR 12.08 million in Q2-21, while the revenues rose by 19% from SAR 955.86 million.

During the first nine months of 2021, SASCO achieved an 18% YoY increase in net profits to SAR 35.5 million from SAR 30.01 million.

Earnings per share went up to SAR 0.59 in the nine-month period this year from SAR 0.5 in the January-September 2020 period.

Revenues soared by 86.6% YoY to SAR 2.84 billion in January-September 2021 from SAR 1.52 billion.