Riyadh – Mubasher: Aldrees Petroleum and Transport Services Company achieved a year-on-year (YoY) increase of 45.9% in net profits after Zakat and tax to SAR 176.8 million in 2021, compared to SAR 121.1 million.

Earnings per share amounted to SAR 2.36 in 2021, higher than SAR 1.61 in 2020, according to the financial results on Tuesday.

Revenues soared by 83% to SAR 9.10 billion last year from SAR 4.97 billion in 2020.

During the fourth quarter (Q4) of 2021, Aldrees registered a 36.9% YoY rise in net profits to SAR 54.1 million from SAR 39.5 million.

Revenues grew by 75% to SAR 2.62 billion in Q4-21 from SAR 1.49 billion in Q4-20.

On a quarterly basis, the net profits in Q4-21 were 14% higher than SAR 47.4 million in Q3-21, and the revenues rose by 2.5% from SAR 2.55 billion.

In a separate bourse disclosure, Aldrees said its board recommended, on 17 January, a cash dividend of SAR 1.5 per share for 2021.

The company will pay a total amount of SAR 112.5 million, representing 15% of the capital, for 75 million eligible shares.

Aldrees will later announce the dividends’ distribution date.