UNITED INTERNATIONAL TRANSPORTATION COMPANY (BUDGET-SAUDI) ANNOUNCES ITS INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED 30 JUNE 2018 (Six Months).
ELEMENT |
CURRENT QUARTER |
SIMILAR QUARTER FOR PREVIOUS YEAR |
% CHANGE CURRENT |
PREVIOUS QUARTER |
% CHANGE PREVIOUS |
Net profit (loss) |
40,831 |
42,665 |
-4.3 |
39,593 |
3.13 |
Gross profit (loss) |
63,749 |
63,907 |
-0.25 |
64,885 |
-1.75 |
Operational profit (loss) |
44,507 |
47,980 |
-7.24 |
43,366 |
2.63 |
All figures are in (Thousands) Saudi Arabia, Riyals |
ELEMENT |
CURRENT PERIOD |
SIMILAR PERIOD FOR PREVIOUS YEAR |
% CHANGE |
Net profit (loss) |
80,424 |
85,132 |
-5.53 |
Gross profit (loss) |
128,634 |
129,957 |
-1.02 |
Operational profit (loss) |
87,873 |
96,080 |
-8.54 |
Earning or loss per share, Riyals |
1.13 |
1.2 |
- |
All figures are in (Thousands) Saudi Arabia, Riyals |
ELEMENT |
EXPLAINATION |
Reasons of increase (decrease) for quarter compared with same quarter last year |
The decrease in net profit in current quarter compared to same quarter last year is mainly due to decrease of revenue from short rental and lower revenue from car sale gain as a result of comparatively low number of vehicles sold. |
Reasons of increase (decrease) for period compared with same period last year |
The decrease of net profit in current period compared to same period last year was mainly due to the decrease of revenue from short rental and lower revenue from car sale gain as a result of comparatively low number of vehicles sold. |
Reasons of increase (decrease) for quarter compared with previous quarter |
The increase of net profit in current quarter compared to previous quarter was due to marginal increase in the short rental due to improved utilization rate in this quarter compared to immediate previous quarter |
Reclassifications in quarterly financial results |
Certain comparative figures have been reclassified to conform to the current period's presentation according to International Financial Reporting Standards (IFRS). |
Other notes |
1- The revenue of the current quarter is SR 250 million compared to SR 281 million for the same quarter last year with decrease of 11%. |