According to the results of the company for the Saudi market (Tadawul), the profits of last year amounted to 121.81 million riyals, compared to the profits of 2018 in the amount of 35.45 million riyals.
The company said that the increase in profits during the comparison years is due to sales growth of 20.8%, and the change in the profit margin for fuel, which in turn affected the increase in the gross profit and operating profit. >
The increase in annual profits for the year 2019 was also attributed to the increase in investment income and other income, despite the increase in selling and general expenses due to the high recruitment costs and the rise in financing expenses for the application IFRS 16 for lease contracts and high zakat expense.
