Riyadh –  Theeb Rent a Car Company posted SAR 106.54 million in net profit in the first nine months (9M) of 2023, down by 23.60% from SAR 139.44 million in 9M-22.

The revenues jumped by 19.64% year-on-year (YoY) to SAR 834.72 million in the period between January and September 2023, compared to SAR 697.68 million, as per the interim financial results.

The listed company reported earnings per share (EPS) of SAR 2.48 in 9M-23, versus SAR 3.24 in 9M-22.

Income Statements for Q3-23

In the third quarter (Q3) of 2023, the Saudi company registered net profits after Zakat and tax of SAR 34.33 million, a drop of 36.18% YoY from SAR 53.79 million.

The revenues increased by 15.27% to SAR 288.40 million in Q3-23, compared to SAR 250.20 million in the same quarter of the prior year.

On a quarterly basis, the Q3-23 net profits rose by 14.75% from SAR 29.91 million in Q2-23, while the revenues grew by 1.78% from SAR 283.37 million.

Cash dividends

Theeb Rent a Car announced a cash dividend of SAR 0.40 per share for Q3-23.

The Saudi listed firm will pay total dividends of SAR 17.20 million, representing 4% of the capital, for 43 million eligible shares, according to a recent bourse filing.

The eligibility and distribution dates are set as 12 and 28 November, respectively.

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