Riyadh – Mubasher: The net profit of United International Transportation Company (Budget Saudi) rose by 5.2% on an annual basis in 2020 to SAR 187.85 million, compared to SAR 178.61 million in 2019.
The growth in the annual net earnings was supported by higher net gains from the sale of vehicles, hence, compensating the reduction in rental revenue resulted from the Covid-19 pandemic, according to a bourse filing on Sunday.
Last year’s revenue stood at SAR 977.2 million, a drop of 6.4% when compared to SAR 1.04 billion a year earlier.
In a separate statement, the company’s board recommended paying SAR 88.96 million in cash dividends to shareholders for the second half (H2) of 2020.
The proposed amount is equal to SAR 1.25 per share or 12.5% of the share’s nominal value.
