Saudi Public Transport Co. (SAPTCO) reported a net profit of SAR 16.1 million in H1 2023, versus a net loss of SAR 1.6 million in the year-earlier period.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 609.67 | 765.57 | 25.6 % |
| Gross Income | 69.19 | 132.16 | 91.0 % |
| Operating Income | 5.16 | 43.39 | 741.5 % |
| Net Income | (1.56) | 16.05 | 1126.1 % |
| Average Shares | 125.00 | 125.00 | - |
| EPS (Riyals) | (0.01) | 0.13 | 1126.1 % |
The company attributed the profit to higher revenues from increased operating rates, despite rising cost of revenues, selling and distribution expenses, general and administrative expenses, financing costs and a decrease in other revenues.
In addition, H1 2022’s financials included losses in the joint venture, a decline in trade receivables, and a reversal of impairment in the value of assets held for sale.
This came despite incurring losses in an associate company during H1 2022.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 310.36 | 457.90 | 47.5 % |
| Gross Income | 43.81 | 121.96 | 178.4 % |
| Operating Income | 14.36 | 70.46 | 390.8 % |
| Net Income | 1.97 | 60.48 | 2965.2 % |
| Average Shares | 125.00 | 125.00 | - |
| EPS (Riyals) | 0.02 | 0.48 | 2965.2 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 307.67 | 457.90 | 48.8 % |
| Gross Income | 10.20 | 121.96 | 1095.3 % |
| Operating Income | (27.07) | 70.46 | 360.3 % |
| Net Income | (44.43) | 60.48 | 236.1 % |
| Average Shares | 125.00 | 125.00 | - |
| EPS (Riyals) | (0.36) | 0.48 | 236.1 % |
On a quarterly basis, the company turned a profit from a loss of SAR 44.43 in Q1 2023.
Shareholders’ equity, excluding minority interest, stood at SAR 961.13 million as of June 30, 2023, compared to SAR 1.04 billion a year earlier.
Accumulated losses reached SAR 288.9 million as of March 31, 2023, accounting for 23.11% of the company’s capital. The decrease in the accumulated losses was consequent to the profit realized during Q2 2023.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}