Saudi bus operator SAPTCO losses narrow by 41% as selling expenses fall

RIYADH: Saudi Public Transport Co. narrowed its losses by 41 percent in 2021, as sales and distribution expenses dropped.

Net losses reached SR220 million ($58.6 million), compared to SR377 million a year earlier, according to a bourse filing.

SAPTCO said it narrowed losses by reducing cost and seeing more revenues from other sources including financing income.

In turn, the Saudi-listed firm is not planning to pay dividends in 2021 in order to strengthen its financial position.

Saudi bus operator SAPTCO losses narrow by 41% as selling expenses fall
Source: Viral Real Articles