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Budget Saudi Records Historic Profits in 2022 Driven by Strong Demand and Fleet Expansion

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Jeddah, Saudi Arabia–(Newsfile Corp. – March 13, 2023) – Budget Saudi, one of the leading car rental companies in Saudi Arabia, has announced record-breaking profits for 2022. The company’s net profit surged to 252 million Saudi riyals, marking a 14.06% increase over its 2021 results. This impressive growth was largely driven by an increase in sales revenue, which totaled over 1 billion riyals. The company’s short-term rental fleet saw strong demand throughout the year, while long-term leasing also contributed significantly to the profits.

The company’s optimized use of its growing fleet, which expanded by 6,000 vehicles to 32,000 by the end of the financial year, was a major factor in boosting revenue and profit. In recognition of its outstanding performance, the board of directors recommended distributing cash dividends of 142 million riyals for 2022, a company record.

Mr. Fawaz Abdullah Danish, the Group CEO, attributed the growth in income to an increase in the number of tourists and Umrah performers visiting the Kingdom, thanks to the country’s openness to tourism and its excellent airport infrastructure. The company sold 5,900 cars in 2022 and is expected to sell more cars in 2023.

Although the supply of new cars presented a challenge up until August of 2022, it improved during the final quarter, and the company expects it to return to normal levels during the second half of 2023. Budget Saudi’s ongoing dedication to providing top-quality service to customers has been a major factor in achieving these historic results. Mr. Danish expressed confidence that the team’s continuing dedication will pave the way for even greater achievements and successes in the coming years.

Budget Rent a Car is the flagship brand of United International Transportation Company, which has been proudly serving customers for more than 44 years. The company offers domestic and international short-term rentals, long-term rentals, and corporate leasing, among other services, through 91 locations throughout the Kingdom, including 13 international and domestic airports, that cover the major population centers, and five used-car showrooms located in Riyadh, Jeddah, Dammam, Medina, and Abha.

Media Contact:
Name- Anil Mathew Abraham
Email- [email protected]
Website- http://www.budgetsaudi.com/
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/158294

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

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Revolutionizing Fintech: 6G Digital & Rune Nilsson’s FlexM Global in a Bold $12.5M Deal Shaking the Banking Industry

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Teletubbies Digital Companions to Launch on the Tezos Blockchain

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MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.

The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.

Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.

Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”

Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”

The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.

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Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

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