The financial statements of the Public Transport Company (SAPTCO) showed the profits of last year increased by 48% on an annual basis.
According to the company’s results for the Saudi market (Tadawul) today, last year’s profits reached 33.92 million riyals, compared to 2018’s profits of 22.93 million riyals.
The company said in a statement to the stock exchange that the increase in profits during the comparison years is due to the increase in the activity revenues due to the increase in the subsidiary company revenues, despite the high activity costs, administrative expenses and selling expenses Distribution and financing costs.
The company also indicated that the increase in annual profits is due to the fact that the previous year included recording a decrease in the value of assets held for sale, in addition to achieving profits in an associate. < / p>
