Budget Saudi 2024 Profits Grow 12% to SAR 312 Million

The United International Transportation Co. (Budget Saudi) announced on Monday that its net profit increased to SAR 312 million by the end of 2024, compared to SAR 277 million in 2023, following today’s announcement of the preliminary financial results for the duration ending Dec. 31, 2024.

The operational profit increased by 23% to SAR 394 million by the end of 2024, compared to SAR 322 million the year before last.

Shareholders’ equity (excluding non-controlling interests) increased by 44% to SAR 2.7 billion in the current year, compared to SAR 1.9 billion in 2023.

The profits per share for the current year amounted to SAR 4.25, compared to SAR 3.9 in 2023.

The Company stated in a statement today on the Saudi Stock Exchange (Tadawul) that the reason for the increase in revenues this year, compared to the previous year is due to the expansion of the long-term and short-term rental fleet. Revenue from a five-month rental from “AutoWorld”, along with full-year revenues from “Overseas Development Company” (70% owned by the group), also contributed to the boost in overall performance.