Riyadh – Mubasher: Saudi Public Transport Company (SAPTCO) registered net losses after Zakat and tax worth SAR 96.35 million in 2022, an annual drop of 56.30% from SAR 220.46 million.

Based on the consolidated annual financial results, the company’s revenues widened by 37.36% year-on-year (YoY) to SAR 1.31 billion in 2022 from SAR 960.57 million.

Furthermore, the loss per share stood at SAR 0.73 in the January-December 2022 period, down from SAR 1.73 in 2021.

Accumulated Losses

SAPTCO incurred accumulated losses worth SAR 304.90 million as of 31 December 2022, accounting for 24.39% of the SAR 1.25 billion capital.

In the first nine months (9M) of 2022, the Tadawul-listed firm reported an annual plunge of 99.16% in net loss after Zakat and tax to SAR 1.28 million, compared to SAR 152.89 million.