Riyadh – Mubasher: Saudi Public Transport Company (SAPTCO) won a SAR 93 million project contract with the Jazan Region Municipality on 18 April, according to a bourse filing.
The Tadawul-listed firm will operate the public transport network project in Jazan, Sabya, and Abu Arish for five years.
SAPTCO highlighted that the project will reflect positively on its revenues during the second quarter (Q2) of 2023.
In the January-December 2022 period, the company posted a 56.30% year-on-year (YoY) plunge in net loss after Zakat and tax to SAR 96.35 million from SAR 220.46 million.
Revenues climbed by 37.36% to SAR 1.31 billion last year from SAR 960.57 million in 2021, whereas the loss per share plummeted to SAR 0.73 from SAR 1.73.
