Aldrees generates $42.6mln net profits in H1-24

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The net profits of Aldrees Petroleum and Transport Services Company grew by 13.49% year-on-year (YoY) to SAR 159.80 million in the first half (H1) of 2024 from SAR 140.80 million.

The revenues amounted to SAR 8.95 billion in H1-24, an annual surge of 28% from SAR 6.99 billion, according to the financial results.

Earnings per share (EPS) jumped to SAR 1.60 during the first six months (6M) of 2024 from SAR 1.41 in the year-ago period.

Financials for Q2-24

In the second quarter (Q2) of 2024, Aldrees posted 17.39% year-on-year (YoY) higher net profits at SAR 82.41 million, compared to SAR 70.20 million in Q2-23.

The revenues hiked by 28.50% YoY to SAR 4.60 billion in the three-month period that ended on 30 June 2024 from SAR 3.58 billion.

Quarter-on-quarter (QoQ), the Q2-24 net profits retreated by 6.47% from SAR 77.40 million in Q1-24, while the revenues dropped by 5.58% from SAR 4.35 billion.