Riyadh-Mubasher: Saudi Public Transport Co. (SAPTCO) incurred net losses of SAR 35.51 million in the fourth quarter of 2015, against earnings of SAR 34.73 million in Q4-14.
The company ascribed the losses mainly to increase in general and administrative expenses as well as marketing expenses.
The company posted net earnings of SAR 196.65 million for 2015, leaping 93% over SAR 102.05 million a year earlier.
The profit growth was driven by increase in operating income and rise in joint venture profits, SAPTCO said.
