Riyadh – Mubasher: United International Transportation Company (Budget Saudi) has posted a 24.72% year-on-year (YoY) jump in net profit after Zakat and tax to SAR 60.27 million during the first quarter (Q1) of 2022 from SAR 48.32 million.

Revenues stood at SAR 248.30 million in the first three months (3M) of 2022, an annual growth of 4.75% from SAR 237.02 million, according to the interim financial results on Sunday.

The earnings per share (EPS) rose to SAR 0.85 in Q1-22 from SAR 0.68 in Q1-21.

On a quarterly basis, the company’s revenues in Q1-22 declined by 2.47% from SAR 254.60 million in Q4-21, while the net profits surged by 16.55% from SAR 51.71 million.

Last year, Budget Saudi recorded net profits after Zakat and tax worth SAR 219.91 million, higher by 8.62% than SAR 202.44 million in 2020.