Saudi: Theeb Rent a Car posts 26% YoY lower profit in 2023

Revenues rose 17.30% YoY to SAR 1.35 billion last year from SAR 967.96 million, according to the annual financial results

Staff Writer, Mubasher

March 14, 2024

PHOTO

The net profit of Theeb Rent a Car Company dropped 26.43% year-on-year (YoY) to SAR 142.06 million in 2023 from SAR 193.10 million.

Revenues rose 17.30% YoY to SAR 1.35 billion last year from SAR 967.96 million, according to the annual financial results.

The earnings per share (EPS) reached SAR 3.30 in the 12 months that ended on 31 December 2023, down from SAR 4.49 in 2022.

Cash Dividends

Theeb Rent announced the distribution of SAR 17.63 million, or SAR 0.41 per share, in final cash dividends for the fourth quarter (Q4) of 2023.

The distribution date is 1 April 2024 and the eligibility date is 19 March.

Theeb Rent recorded SAR 106.54 million in net profit in the first nine months (9M) of 2023, 23.60% YoY lower than SAR 139.44 million.

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