Money and business
“SABTCO” turns into profitability with 15.11 million riyals at the end of 2024
The Saudi Collective Transport Company (SABTCO) turned to profitability in 2024, recording 15.11 million riyals, compared to losses of 24.17 million riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, the reason for achieving profits for the fiscal year 2024 AD is compared to losses for the year 2023 AD to:
1. The cost of revenue, sales and distribution expenses.
2. Achieving profits in a colleague company in exchange for losses in the previous year.
3. High financing revenues.
4. The current year included a decrease in the value of the assets held for the purpose of selling in exchange for a decrease in the previous year.
Note that activity revenues, other revenues, as well as a rise in zakat expenses and financing costs. In addition to the high losses of the joint project.
According to the company’s statement on Saudi Arabia’s circulation, the reason for achieving profits for the fiscal year 2024 AD is compared to losses for the year 2023 AD to:
1. The cost of revenue, sales and distribution expenses.
2. Achieving profits in a colleague company in exchange for losses in the previous year.
3. High financing revenues.
4. The current year included a decrease in the value of the assets held for the purpose of selling in exchange for a decrease in the previous year.
Note that activity revenues, other revenues, as well as a rise in zakat expenses and financing costs. In addition to the high losses of the joint project.
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