Riyadh – Mubasher: Dar Almarkabah for Renting Cars Company (DS Rent) reported an 11.21% increase in net profit during the first half (H1) of 2023, driven by higher sales volume, expense reduction, and improvement in profit margin.
DS Rent's net profits stood at SAR 3.28 million in H1-23, compared with SAR 2.95 million in the same period a year ago, according to a bourse disclosure.
The revenues increased by 3.16% to SAR 30.58 million during the January-June 2023 period from SAR 29.64 million in H1-22.
Moreover, the earnings per share (EPS) was SAR 1.64 at the end of June 2023, up from SAR 1.47 in the corresponding period last year.
Contract Award
In a separate statement, DS Rent unveiled that it was awarded a SAR 6 million car rental contract from a private government entity on 11 September this year.
The listed firm noted that the contract holds a duration period of four months.
It is worth noting that DS Rent commenced the listing and trading of its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) last August.
