Riyadh – Mubasher: National Gas and Industrialization Company (GASCO) achieved net profits after Zakat and tax worth SAR 121.7 million during the first half (H1) of 2021, a jump of 221.9% from SAR 37.8 million in H1-20.

The earnings per share stood at SAR 1.62 in H1-21, compared to SAR 0.5 in H1-20, according to the financial results on Thursday.

GASCO’s revenues decreased by 2.9% on an annual basis to SAR 978.9 million in H1-21 from SAR 1 billion in H1-20.

During the second quarter (Q2) of 2021, the company registered a surge of 58% in net profits to SAR 36.5 million from SAR 23.1 million in Q2-20.

Revenues declined by 2.5% to SAR 467.8 million in the April-June 2021 period from SAR 479.9 million in the same three months last year.

Quarter-on-quarter (QoQ), the net profits in Q2-21 were 57% lower than SAR 85.2 million in Q1-21, and the revenues fell by 8% from SAR 511.1 million.