Used car sales boost Budget profits
Budget Saudi Arabia, a company specializing in car rentals, achieved a net profit of 93.4 million Riyals in the second quarter of 2026, representing a 9.1% increase compared to the same period last year. This growth was supported by an increase in used vehicle sales and improved operational performance of the fleet. The company’s revenues for the quarter amounted to approximately 638.4 million Riyals, compared to 544.7 million Riyals in the same period of 2025. The increase is attributed to the company's investments in diversifying its sources of income. Additionally, the company's board of directors announced a cash dividend distribution of 52.1 million Riyals to shareholders for the first half of 2026, at a rate of 0.50 Riyals per share, with the distribution starting at the beginning of September. The company's market value is approximately 2.89 billion Riyals, making it the largest car rental company in the Middle East and Africa.
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