Riyadh – Mubasher: Saudi Automotive Services Co.'s (SASCO) profits surged 128.2% year-on-year to SAR 12.96 million ($3.46 million) in the fourth quarter of 2016 from SAR 5.68 million ($1.51 million).
The Q4 net profit increase was attributed to higher sales by 46.69% which positively affected gross income and operating income, adding to higher income from investments.
The company’s net profits rose 38.1% to SAR 26.15 million in 2016 from SAR 18.94 million in 2015, according to a bourse filing on Tuesday.
Annual profits rise was due to higher sales by 64.39% which positively affected gross income and operating income, adding to higher income from investments by 51.46%.
