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Budget Saudi sees higher profits in Q1-24; revenues up 39.5%

Budget Saudi sees higher profits in Q1-24; revenues up 39.5%
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BUDGET SAUDI
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35.85% 88.30 23.30

Riyadh – Mubasher: United International Transportation Company (Budget Saudi) posted net profits valued at SAR 69.71 million in the first quarter (Q1) of 2024, up 0.56% from SAR 69.31 million in Q1-23.

The Saudi firm generated revenues worth SAR 416.87 million in Q1-24, marking a 39.55% year-on-year (YoY) hike from SAR 298.70 million, according to the interim financials.

Earnings per share (EPS) increased to SAR 0.98 in the first three months (3M) of 2024 from SAR 0.97 a year earlier.

On a quarterly basis, the Q1-24 net profits jumped by 5.44% from the SAR 66.10 million registered in Q4-23, while the revenues increased by 12.72% from SAR 369.80 million.

In 2023, Budget Saudi posted net profits amounting to SAR 277.21 million, an annual growth of 10% from SAR 252 million.