Riyadh-Mubasher: United International Transportation Co. (Budget Saudi) reported net earnings of SAR 49.6 million for the fourth quarter of 2015, up 11% over SAR 44.7 million in the prior-year period.
The profit growth was spurred by an increase in revenues from rentals (long and short term) during this quarter as well as the consistent growth in commercial and truck leasing in the subsidiary Rahaal, the company said.
Full-year net income also rose 10% year-on-year from SAR 171 million to SAR 188.7 million, due to higher revenues from rentals (long and short term) especially long term as a result of growth in leasing with efficient management.
