Riyadh – Aldrees Petroleum and Transport Services Company recorded a 22.53% year-on-year (YoY) growth in net profit after Zakat and tax to SAR 208.30 million during the first nine months (9M) of 2023, compared to SAR 170 million.

The Saudi firm generated revenues amounting to SAR 10.88 billion in 9M-23, an annual surge of 20.59% from SAR 9.02 billion, according to the interim financial results.

Earnings per share (EPS) hit SAR 2.78 in January-September 2023, up from SAR 2.27 in the year-ago period.

Financials for Q3-23

During the third quarter (Q3) of 2023, Aldrees registered SAR 67.60 million in net profit after Zakat and tax, marking a 9.56% YoY rise from SAR 61.70 million.

Revenues amounted to SAR 3.88 billion during the July-September 2023 period, higher by 19.25% than SAR 3.25 billion a year earlier.

On a quarterly basis, the Q3-23 profits declined by 3.70% from the SAR 70.20 million achieved in Q2-23, while the revenues increased by 8.45% from SAR 3.58 billion.

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