Budget Saudi Announces a 4% Rise in Net Profit in 2022
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Jeddah, Saudi Arabia--(Newsfile Corp. - August 23, 2022) - One of the biggest car renting and leasing companies of the Middle East, United International Transportation Co. aka Budget Saudi, declares an overall 4% boost in its net profit in the year 2022.
Budget Saudi net profit this year rises to SR 122 million from SR 117 million in 2021. Their entire fleet size this year has grown significantly due to the introduction of additional vehicles for both short-term rentals and long-term leases. The business signed long-term lease agreements worth more than SAR 580 million in just the first half of 2022.
Budget Saudi is Saudi Arabia's premier short and long-term vehicle rental and leasing company, serving both retail and corporate clients. The enterprise started off in 1978 and over the years has developed a reputation for excellence and dependability in the transportation industry. It is the first publicly traded automobile rental firm in Saudi Arabia and has internal QMS, EVS, and OHAS accredited to ISO 9001, 14001, and 45001 standards.
With 29,000+ vehicles and a network of 100 retail stations spread over 25 cities, Budget Saudi claims to have the largest rental and leasing network in the Middle East and North Africa (MENA). It has received five consecutive World Travel Awards, including one in 2018, as well as the INSEAD TOP 50 CEO award for publicly traded companies in the GCC.
The company credits the increase in its profits in the fiscal year of 2021-2022 to a robust rebound in its core rental and leasing business, which was sparked by aggressive marketing campaigns with an emphasis on short-term retail rentals. Budget Saudi is appreciative of the Saudi government's efforts to draw tourists by focusing on the tourism sector and reducing travel restrictions in the year 2021-2022 which contributed a lot to the expansion of their short-term rentals. The corporation also acknowledges that the increase in the economic activities in the KSA region in this period played a big role in their success.
In the words of Fawaz Abdullah Danish, the company's President & Group CEO,
"Business has been harder over the last couple of years, but for those who are prepared to adapt quickly and are well experienced, growth was possible. We have been in this business for 44 years and have a network of locations and service centers spread across 25 cities in Saudi Arabia. So we have great opportunities to hear from our customers and reach out to them wherever they are, creating great experiences for them."
In the upcoming years, Budget Saudi is looking forward to focusing more on environment-friendly initiatives. The business has already started taking action to conserve energy by introducing hybrid vehicles to their fleet. They are also discussing the introduction of electric vehicles into their fleet, with the goal of achieving zero CO2 emissions.
Name- Anil Mathew Abraham
Email- [email protected]
Contact- +966 92000 4124 / +966 (0)12 692 7070 Ext 1444
Address - 3, Al Basateen District, Bin 3 Complex, King Abdul Aziz Road, Jeddah 23719, Saudi Arabia
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134437
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