Saudi Land Transport Company (Mobarrad) was established in 1983 to operate a land transport handling system servicing clients operating within and trading with Saudi Arabia. The company is 100 per cent owned by private investors.

The company's general manager Yousef Bakhsh said in January 1998 that he expected the company to move into profit in 1998 as a result of a strategic initiative designed to cut the company's dependence on the refrigerated transport business.

This has proven to be a high-risk business because of the responsibility the carrier bears for any deterioration in refrigerated goods it delivers. At present, the company has 367 refrigerated trailers and 58 refrigerated trucks.

There are a further 743 head trucks, flat trucks and trailers for dry transport in the fleet.Bakhsh said the company has recently won a three-year contract to handle dry products for Saudi Basic Industries Corporation (Sabic).

This will entail buying 15 tankers for the transportation of polyvinyl chloride (PVC) and 20 tankers for transporting liquid products.Mobarrad recorded a loss of SR 4.1 million ($1.1 million) in 1997 after making losses of SR 7.

3 million ($1.9 million) in 1996. Sales contracted by 15 per cent to SR 43.6 million ($11.6 million) and the cost of sales fell by 20 per cent to SR 33.1 million ($8.8 million) from those reported in 1996.

Despite the slump in the Saudi economy, sales revenues rose by almost 10 per cent in 1998 to SR 48 million ($13 million). As a result, the company reported a profit of SR 1.4 million ($370,000). No dividend has been paid for more than five years.

Individuals	N/A
Institutions	N/A
Floating	N/A
Government	N/A

	2004	2003	2002
Total Assets	323,244	292,731	216,331
Shareholder's Equity	258,566	228,260	181,889
NIAT	43,656	62,435	12,969
Dividends	14,400	25,200	18,000

	2004	2003	2002
Assets Growth	10.42%	35.32%	0.41%
Earning Growth	-30.08%	381.41%	0.00%
ROaA	14.17%	24.53%	6.01%
ROaE	17.94%	30.45%	7.20%
No. Of Shares	3,600,000	3,600,000	6,000,000
EPS	12.13	17.34	2.16
EPS Growth	-30.08%	381.41%	0.00%
Payout Ratio	32.985	40.362	138.789

	Trailing
PE
PB
DVPS
Div Yield
EV
EV/Equity

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