United International Transportation Co. (Budget Saudi) reported a net profit after zakat and tax of SAR 178.62 million for fiscal year 2019, up by 5.08% year-on-year (YoY) due to improved operating efficiency, better utilization of fleet and improved revenue per vehicle.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 1,040.97 | 1,043.49 | 0.2 % |
| Gross Income | 275.08 | 297.36 | 8.1 % |
| Operating Income | 178.78 | 187.63 | 4.9 % |
| Net Income | 169.99 | 178.62 | 5.1 % |
| Average Shares | 71.17 | 71.17 | - |
| EPS (Riyals) | 2.39 | 2.51 | 5.1 % |
The company also cited strong demand for used vehicles and improved market price.
Q4 2019 net earnings rose 4% YoY to SAR 48.3 million.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 258.09 | 273.97 | 6.2 % |
| Gross Income | 75.26 | 74.93 | (0.4 %) |
| Operating Income | 47.03 | 49.74 | 5.8 % |
| Net Income | 46.45 | 48.30 | 4.0 % |
| Average Shares | 71.17 | 71.17 | - |
| EPS (Riyals) | 0.65 | 0.68 | 4.0 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 255.64 | 273.97 | 7.2 % |
| Gross Income | 77.21 | 74.93 | (3.0 %) |
| Operating Income | 48.63 | 49.74 | 2.3 % |
| Net Income | 45.24 | 48.30 | 6.7 % |
| Average Shares | 71.17 | 71.17 | - |
| EPS (Riyals) | 0.64 | 0.68 | 6.7 % |
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