United International Transportation Co. (Budget Saudi) announces its Interim Financial Results for the Period Ending on 30-06-2021 (Six Months)
ELEMENT LIST |
CURRENT QUARTER |
SIMILAR QUARTER FOR PREVIOUS YEAR |
%CHANGE |
PREVIOUS QUARTER |
% CHANGE |
Sales/Revenue |
237,136 |
187,663 |
26.362 |
241,427 |
-1.777 |
Gross Profit (Loss) |
83,517 |
45,802 |
82.343 |
84,640 |
-1.326 |
Operational Profit (Loss) |
58,732 |
23,559 |
149.297 |
57,114 |
2.832 |
Net Profit (Loss) after Zakat and Tax |
56,253 |
22,582 |
149.105 |
55,176 |
1.951 |
Total Comprehensive Income |
56,253 |
22,575 |
149.182 |
55,176 |
1.951 |
All figures are in (Thousands) Saudi Arabia, Riyals |
ELEMENT LIST |
CURRENT PERIOD |
SIMILAR PERIOD FOR PREVIOUS YEAR |
%CHANGE |
Sales/Revenue |
478,563 |
464,332 |
3.064 |
Gross Profit (Loss) |
168,157 |
127,506 |
31.881 |
Operational Profit (Loss) |
115,846 |
71,508 |
62.004 |
Net Profit (Loss) after Zakat and Tax |
111,429 |
68,039 |
63.772 |
Total Comprehensive Income |
111,429 |
67,878 |
64.16 |
Total Share Holders Equity (after Deducting Minority Equity) |
1,297,050 |
1,192,094 |
8.804 |
Profit (Loss) per Share |
1.57 |
0.96 |
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All figures are in (Thousands) Saudi Arabia, Riyals |
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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 profit is mainly due to improved short-term rental revenue, which was low in the same quarter last year due to total and partial Covid-19 lockdown. |
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 increase in the current quarter is due to the improvement in the long-term rental revenue and better control over the direct expenses. |
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is |
The increase in profit is mainly due to improved short-term and long-term rental revenue along with significant improvement in the gain from used vehicles, which was comparatively low in the same period last year due to total and partial Covid-19 lockdown, especially in the second quarter of 2020 |
Statement of the type of external auditor's report |
Unmodified conclusion |
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion |
None |
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) |