United International Transportation Co. (Budget Saudi) announces its Interim Financial Results for the Period Ending on 30-06-2023 (Six Months)

27 July 2023 04:01 PM

BUDGET SAUDI 4260 -3.27% 65.00 -2.20

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	340,553	231,245	47.27	298,705	14.01
Gross Profit (Loss)	112,940	91,572	23.33	104,006	8.59
Operational Profit (Loss)	82,276	66,881	23.02	77,854	5.68
Net Profit (Loss) after Zakat and Tax	70,284	62,480	12.49	69,318	1.39
Total Comprehensive Income	70,284	62,480	12.49	69,318	1.39
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	639,258	479,545	33.3
Gross Profit (Loss)	216,946	178,447	21.57
Operational Profit (Loss)	160,130	131,011	22.23
Net Profit (Loss) after Zakat and Tax	139,602	122,752	13.73
Total Comprehensive Income	139,602	122,752	13.73
Total Share Holders Equity (after Deducting Minority Equity)	1,757,391	1,628,673	7.9
Profit (Loss) per Share	1.96	1.72
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason of the increase in the net profit during the current quarter compared to the same quarter of the last year is primarily attributed to an increase in sale proceeds from used cars and resultant gain, along with better short-term rental and long-term rental revenue as the result of fleet growth.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is	The reason of the increase in the net profit during the current quarter compared to the previous quarter of the current year is primarily attributed to an increase in sale proceeds from used cars and resultant gain, along with better short-term rental and long-term rental revenue as the result of consistent improved utilization.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The reason of the increase in the net profit during the current period compared to the same period of the last year is due to an increase in sale proceeds from used cars and resultant gain, along with better short-term rental and long-term rental revenue as the result of growth in the fleet with consistent improved utilization.
Statement of the type of external auditor's report	Unmodified conclusion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	None
Reclassification of Comparison Items	Certain comparative figures have been reclassified to conform to the current period's presentation according to International Financial Reporting Standards (IFRS)

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