Riyadh-Mubasher: Saudi Automotive Services Co. (SASCO) posted a 19.14% rise year-on-year in its profits during the second quarter of 2016, according to a bourse statement.
Profits reached SAR 4.42 million ($1.18 million) in Q2-16, compared to SAR 3.71 million ($989,000).
The Q1-16 profit rise is mainly attributed to “the cost of Zaiti acquisition in addition to an increase on operation revenue in current quarter”.
The increase in G&A expense is due to a rise in provisions of the custom claims, employment costs and marketing expenses.
SASCO generated net profits of SAR 6.05 million in H1-16, a rise of 12.82% from SAR 6.94 million in H1-15.
