SAPTCO rolls out $30.4mln deal with Development of Madinah Authority
Riyadh – Saudi Public Transport Company (SAPTCO) inked a SAR 113.84 million contract with the Development of Madinah Authority on 26 January 2025, according to a bourse filing.
The deal covers operating shuttle transportation services for the Pilgrims Experience Program in Madinah for one year.
This contract is expected to reflect positively on SAPTCO's financial results during the first quarter (Q1) of 2025.
In the first nine months (9M) of 2024, SAPTCO logged net profits valued at SAR 20.85 million, down 53.39% year-on-year (YoY) from SAR 44.73 million.
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