Thieb's Q2 profits fall 65.6 percent

Deyab Car Rental Company recorded a 65.64% decrease in its profits in the second quarter of 2026, with net profit reaching 16.42 million riyals compared to 47.79 million riyals in the same period of the previous year. The main reason for this decline is the decreased utilization of the fleet, increased provisions for credit losses due to market risks, and a drop in profits from the used car sales segment as a result of declining sale prices. On a quarterly basis, profits decreased by 52.4% compared to the first quarter. In the first half of 2026, profits declined by 45.34%, amounting to 50.92 million riyals.

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