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Aldrees’ H1-21 profits jump 68.5%

Aldrees’ H1-21 profits jump 68.5%
Earnings per share stood at SAR 1 in H1-21
ALDREES
4200
48.61% 171.20 56.00

Riyadh – Mubasher: Aldrees Petroleum and Transport Services Company achieved net profits after Zakat and tax worth SAR 75.3 million during the first half (H1) of 2021, higher by 68.5% than SAR 44.7 million in H1-20.

Earnings per share stood at SAR 1 in H1-21, compared to SAR 0.6 in the same period in 2020, according to the initial income statements on Wednesday.

Revenues surged 80.6% to SAR 3.93 billion in the first six months of 2021 from SAR 2.17 billion in H1-20.

During the second quarter (Q2) of 2021, Aldrees recorded net profits of SAR 36 million, a leap of 150% from SAR 14.4 million in Q2-20.

Revenues also jumped 202% to SAR 2.17 billion in the April-June 2021 period from SAR 719.3 million in Q2-20.

Quarter-on-quarter (QoQ), the net profits in Q2-21 were lower by 8.6% than SAR 39.4 million in Q1-21. The revenues meanwhile were higher by 23.5% than SAR 1.75 billion.