United International Transportation Company (Budget Saudi) announces its Interim Financial Results for the Period Ending on 2021-03-31 (Three Months)
ELEMENT LIST |
CURRENT QUARTER |
SIMILAR QUARTER FOR PREVIOUS YEAR |
%CHANGE |
PREVIOUS QUARTER |
% CHANGE |
Sales/Revenue |
241,427 |
276,669 |
-12.737 |
285,222 |
-15.354 |
Gross Profit (Loss) |
84,640 |
81,704 |
3.593 |
106,160 |
-20.271 |
Operational Profit (Loss) |
57,114 |
47,949 |
19.114 |
82,878 |
-31.086 |
Net Profit (Loss) after Zakat and Tax |
55,176 |
45,457 |
21.38 |
77,596 |
-28.893 |
Total Comprehensive Income |
55,176 |
45,303 |
21.793 |
77,596 |
-28.893 |
All figures are in (Thousands) Saudi Arabia, Riyals |
ELEMENT LIST |
CURRENT PERIOD |
SIMILAR PERIOD FOR PREVIOUS YEAR |
%CHANGE |
Total Share Holders Equity (after Deducting Minority Equity) |
1,329,755 |
1,205,102 |
10.343 |
Profit (Loss) per Share |
0.78 |
0.64 |
|
All figures are in (Thousands) Saudi Arabia, Riyals |
ELEMENT LIST |
EXPLANATION |
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is |
The increase in the net profit is due to an increase in the net gain on the sale of the vehicles, as more vehicles were sold with improved margin in Q 1 2021 compared to the same quarter last year. The better gain on sale has compensated the decline of lease and rental revenue due to covid-19, which is not yet recovered or normalized due to prevailing restriction. |
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is |
The decrease in net profit for the current quarter compared to the previous quarter is mainly because the number of vehicles sold in the current quarter is comparatively lower than the preceding quarter. |
Statement of the type of external auditor's report |
Unmodified conclusion |
Reclassification of Comparison Items |
Certain comparative figures have been reclassified to conform to the current period's presentation according to International Financial Reporting Standards (IFRS) |