Riyadh – Mubasher: Theeb Rent a Car Company has achieved an 82.64% rise in net profits after Zakat and tax to SAR 50.933 million during the first half (H1) of 2021, compared to SAR 27.887 million in the corresponding period of 2020.
Higher net profits are attributed to the continuous improvement in demand for the short-term car rental services in 2021 and in net profits for the long-term lease and car sales segment despite a drop in car sales revenue, according to a bourse filing on Thursday.
The company's revenues climbed by 11.92% to SAR 357.145 million in the first six months of 2021 from SAR 319.109 million in the year-ago period.
The earnings per share (EPS) settled at SAR 1.18 in H1-21, against SAR 0.65 in H1-20.
In the second quarter (Q2) of 2021, the company recorded net profits of SAR 24.959 million, versus net losses of SAR 6.173 million in the same period of 2020.
