Saudi Public Transport Co. (SAPTCO) reported a 53 percent jump year-on-year (YOY) in its passenger transport segment’s income in the third quarter of this year to SAR 75 million, from SAR 49 million in Q3-2014, Argaam’s analysis of the company’s financial results showed.
The contracts and leasing segment swung to profit in Q3, posting a 1435 percent surge YOY in its earnings to SAR 61 million, compared to a loss of SAR 4.6 million in the same period of 2014.
The solid performance of both business segments was bolstered by seasonal factors and pent-up demand as the Hajj season fell in the third quarter.
Meanwhile, the head office segment incurred a loss of SAR 12.7 million in the third quarter, compared to a net profit of SAR 0.7 million in the same period of 2014.
SAPTCO currently trades at SAR 20.15 with a price/earnings ratio (P/E) of 9.4x trailing twelve-month results (TTM). The stock also trades at a price/book ratio (P/B) of 1.62x.
|
Quarterly Results of SAPTCO’s segments – (SAR mln) |
||||
|
Gross income |
Head office |
Contracts and leasing |
Passengers transport |
Period |
|
123.2 |
(12.7) |
61.0 |
74.9 |
Q3- 2015 |
|
22.4 |
(11.2) |
(2.2) |
35.9 |
Q2- 2015 |
|
44.7 |
(8.1) |
8.7 |
44.1 |
Q1- 2015 |
|
70.3 |
(9.8) |
49.5 |
30.6 |
Q4- 2014 |
|
45.0 |
0.7 |
(4.6) |
48.9 |
Q3- 2014 |
|
30.9 |
(7.2) |
5.4 |
32.8 |
Q2- 2014 |
|
41.5 |
(9.2) |
16.3 |
34.4 |
Q1- 2014 |
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