Riyadh – Mubasher: The Saudi Automotive Services Company (SASCO) recorded an annual increase of 47.9% in net profits after Zakat and tax to SAR 12.01 million during the first quarter (Q1) of 2021 from SAR 8.12 million.
SASCO’s profit per share stood at SAR 0.2 in Q1-21, compared to SAR 0.14 in the same quarter a year earlier, according to the initial income statements.
Sales also grew 17.07% to SAR 750.54 million in Q1-21 from SAR 641.07 million in Q1-20.
Quarter-on-Quarter (QoQ), the net profit rose by 18.67% from SAR 10.12 million in the fourth quarter (Q4) of 2020.
Sales as well increased by 22.84% QoQ from SAR 610.97 million.
During Q1-21, SASCO obtained SAR 630 million in Shariah-compliant facilities from Al Rajhi Bank.
