The Saudi Automotive Services Company (SASCO) has announced launching the commercial franchising programme for two brands, namely “SASCO Stations” and “SASCO Palm c-store” on Tuesday.
This programme, which is the first of its kind, aims to create new investment opportunities for SASCO, according to a statement to the Saudi Stock Exchange (Tadawul) on Wednesday.
The firm further noted that the programme’s financial impact is expected to appear in its second-quarter results.
SASCO last reported a 15.72% profit rise, logging SAR 7.36 million during the second quarter of 2018, compared to SAR 6.36 million in Q2-17.
The company’s profits levelled up 39.29% to SAR 15.28 million in H1-18, from SAR 10.97 during H1-17.
By 10:18 am Saudi time, SASCO’s stock rose 0.13% to SAR 15.42.