It said the latest figure is an increase of four percent, compared to the net income of SR22.96 million for the prior quarter.

The company’s gross profit for second quarter ended June 30, 2011 amounted to SR23.69 million compared to SR23.08 million for same quarter last year, an increase of three percent.

The income from operation for second quarter amounted to SR26.75 million compared to SR26.94 million for same quarter last year, a decrease of one percent.

The net income for the six months ended June 30, amounted to SR46.91 million compared to SR45.26 million for the same period last year, an increase of four percent.

The earnings per share for the six months ended June 30, amounted to SR2.56 compared to SR2.47 for the same period last year.

The gross profit for the six months ended June 30 amounted to SR44.52 million compared to SR43.20 million for the same period last year, an increase of three percent.

The income from operations for the first six months amounted to SR52.19 million compared to SR50.64 million for the same period last year, an increase of three percent.

The different comparative figures for this period compared with same period of last year was due to reclassification of some items in the statement of income, according to the statement.

The increase in the net income for the period ended June 30 was mainly due to the increase in revenue from rentals (long and short term) and gain of car sales in six months compared with same period in last year.