SAL gets most optimistic performance forecast for Q1 2024

A warehouse of SAL Saudi Logistics Services Co. (SAL)

Investors are most optimistic on SAL Saudi Logistics Services Co. (SAL), among transport firms, for Q1 2024, a survey by Argaam showed.

The company got 77.46% of votes, the highest compared to other transport companies. 

In Q3 2023, SAL reported a net profit of SAR 116 million, a jump of 43% year-on-year (YoY), backed by higher handling volumes and the new contracts in the logistics solutions division.  

On Nov. 16, 2023, the company paid a cash dividend at SAR 1.9 a share, totaling SAR 152 million for Q2 and Q3 2023.

A number of financial institutions forecast SAL to report average revenue of over SAR 402 million and average earnings of more than SAR 132 million in the fourth quarter of 2023.

The logistics provider’s shares were listed on the Saudi Exchange (Tadawul) on Nov. 1, 2023. The stock has gained 77% since its debut until Jan. 18, 2024.