SASCO’s profits fall to $6.1mln in H1-24

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The revenues amounted to SAR 4.93 billion in H1-24, an annual rise of 10.85% from SAR 4.45 billion, according to the initial financial results

Staff Writer, Mubasher

July 29, 2024

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Saudi Automotive Services Company (SASCO) generated SAR 22.86 million in net profit during the first half (H1) of 2024, down 2.47% year-on-year (YoY) from SAR 23.44 million.

The revenues amounted to SAR 4.93 billion in H1-24, an annual rise of 10.85% from SAR 4.45 billion, according to the initial financial results.

Earnings per share (EPS) maintained its value at SAR 0.33 in the January-June 2024 period.

Financials for Q2-24

In the second quarter (Q2) of 2024, the net profits stood at SAR 12.85 million, an annual surge of 14.83% from SAR 11.19 million.

The revenues enlarged by 11.20% to SAR 2.48 billion in Q2-24 from SAR 2.23 billion a year earlier.

Quarterly, the Q2-24 net profits hiked by 28.37% from SAR 10.01 million in Q1-24, while the revenues increased by 1.35% from SAR 2.45 billion.

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