The United International Transportation Company (Budget Saudi Arabia) recorded a 149% increase in profits to reach 56.3 million riyals during the second quarter of 2021, compared to 22.6 million riyals during the same period last year.
According to Arabiya Net, the company said, in a statement, that the company's revenues increased by 26.4% to reach 237.136 million riyals during the corresponding period last year.
The company said in a statement to Saudi Tadawul that the reason for the increase in net profit is due to the improvement in short-term rental income in the current quarter compared to the same quarter of the previous year, which was lower due to Impact of the total and partial closure related to the Corona pandemic.
The company's profits during the first half grew by 63.8% to reach 111.43 million riyals, while revenues rose by 3% to 478.56 million riyals, also due to the improvement in rental income. Long-term and short-term in addition to the significant improvement in profits from selling used cars compared to the same period of the previous year, which was low due to the impact of the total and partial closures related to the Corona pandemic, especially in the second quarter of the year 2020.
