Saudi Automotive Services Company (SASCO) logged net profits valued at SAR 10.01 million in the first quarter (Q1) of 2024, an annual drop of 18.28% from SAR 12.25 million.

Meanwhile, SASCO posted 10.49% higher revenues at SAR 2.45 billion in Q1-24, compared to SAR 2.22 billion in Q1-23, according to the interim financial results.

Earnings per share (EPS) hit SAR 0.17 in the first three months (3M) of 2024, down year-on-year (YoY) from SAR 0.20.

On a quarterly basis, the Q1-24 net profits plunged by 84.70% from SAR 65.46 million in Q4-23, while the revenues grew by 5.09% from SAR 2.33 billion.

In 2023, SASCO logged net profits valued at SAR 105.49 million, higher by 40.32% than SAR 75.18 million a year earlier.

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