RIYADH, SAUDI ARABIA: Saudi Automotive Services Company (SASCO) has announced a net profit of SAR 35.45 million for the year ended December 31, 2019, which is 26.6 percent higher than the profit of SAR 27.99 million recorded in the previous year.
The earnings per share (EPS) for 2018 clocked in at SAR 0.59 as against EPS of SAR 0.47 in 2017, a notification issued to Tadawul said. Saudi Automotive Services Company (SASCO) also declared a cash dividend of SAR0.5/share.
The increase in net profit in the current year compared to the last year is attributed to 69.6 percent higher sales, in addition to decrease in depreciation, Custom claims provision and increase in investment income. However, cost of sales, financing cost, general and administrative expenses posted increase.[the_ad id=”31605″]