Aldrees Petroleum and Transport Services Company logged net profits after Zakat and tax worth SAR 241.80 million in 2022, an annual jump of 36.76% from SAR 176.80 million.

Revenues amounted to SAR 12.35 billion last year, a surge of 35.64% from SAR 9.10 billion in 2021, according to the financial results.

The earnings per share (EPS) stood at SAR 3.22 in the January-December 2022 period, compared to SAR 2.36 a year earlier.

During the fourth quarter (Q4) of 2022, the net profits after Zakat and tax of Aldrees reached SAR 71.80 million, higher by 32.72% year-on-year (YoY) than SAR 54.10 million.

Additionally, the company generated revenues worth SAR 3.33 billion in Q4-22, up 27.16% YoY from SAR 2.62 billion.

On a quarterly basis, the Q4-22 net profits after Zakat and tax increased by 16.37% from SAR 61.70 million in Q3-22, while the revenues grew by 2.33% from SAR 3.25 billion.

Earlier this week, the board of Aldrees proposed the distribution of SAR 150 million as cash dividends to shareholders for 2022.

In the first nine months (9M) of 2022, the firm registered SAR 170 million in net profit after Zakat and tax, an annual leap of 38.55% from SAR 122.70 million.

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