The company said in a statement on the Saudi Stock Exchange (Tadawul) on Monday that the improvement in net profit reflects higher utilization rates of the car fleet in the short-term and long-term rental sectors, which contributed to improved operational efficiency, targeted reductions in some operating cost items, in addition to strong revenue performance, as total revenue increased by 13.91% compared to the previous year.
The company achieved total revenues of SAR 517.9 million during the period, representing a year-on-year increase of 13.91%. This performance is attributed to the continued expansion in the long-term and short-term leasing sectors, which remain the core business of the company's operations.
Excluding used car sales, which are a secondary revenue source, the core operating revenue growth rate rises to 16.86%, reflecting the strength of the company’s core business and the continued improvement in revenue quality.
