SAPTCO’s passenger transport segment saw 53% rise in Q3 earnings
02/11/2015 Argaam Exclusive
Saudi Public Transport Co. (SAPTCO) reported a 53 percent jump year-on-year (YOY) in its passenger transport segment’s income in the third quarter of this year to SAR 75 million, from SAR 49 million in Q3-2014,Argaam’s analysis of the company’s financial results showed.
The contracts and leasing segment swung to profit in Q3, posting a 1435 percent surge YOY in its earnings to SAR 61 million, compared to a loss of SAR 4.6 million in the same period of 2014.
The solid performance of both business segments was bolstered by seasonal factors and pent-up demand as the Hajj season fell in the third quarter.
Meanwhile, the head office segment incurred a loss of SAR 12.7 million in the third quarter, compared to a net profit of SAR 0.7 million in the same period of 2014.
SAPTCO currently trades at SAR 20.15 with a price/earnings ratio (P/E) of 9.4x trailing twelve-month results (TTM). The stock also trades at a price/book ratio (P/B) of 1.62x.
Quarterly Results of SAPTCO’s segments – (SAR mln)