The Saudi Automotive Services Company (SASCO) achieved a 26.7% growth in its net profit to reach 50.84 million riyals in 2021, compared to 40.13 million riyals in 2020. .
According to Arabiya Net, the company's revenues increased by 90% to reach 4 billion riyals, compared to 2.136 billion riyals in 2020.
The reason for the increase in net profit during the current year compared to the previous year is due to the increase in the amount of sales, which led to an increase in the gross profit, despite including the total profit of the previous year. On the reductions received during the pandemic period, in addition to the increase in investment income and the decrease in the provision for credit losses component and the Zakat expense, despite the increase in general and administrative expenses and marketing expenses, which led to a decrease in net profit from major operations, an increase in financing expenses and a decrease in other revenues.
