The profits of “Aldrees” increased to 72 million in the fourth quarter, by 33%

The profits of “Aldrees” increased to 72 million in the fourth quarter, by 33%
The profits of “Aldrees” increased to 72 million in the fourth quarter, by 33%
-

Al-Drees Petroleum and Transport Services Company revealed an increase in net profit after zakat and tax in the fourth quarter to 71.8 million riyals, compared to 54.1 million riyals in the same quarter of last year, at a rate of 32.7%. This came after today’s announcement of the annual financial results for the period ending on 12/31/ 2022 AD (twelve months).

The operating profit amounted to 107.3 million riyals in the fourth quarter, compared to 82.7 million riyals in the same quarter of the previous year, an increase of 29.7%.

The net profit after zakat and tax during the 12-month period amounted to 241.8 million riyals, compared to 176.8 million riyals in the same period last year, with a growth of 36.7%.

The total shareholders’ equity “without minority rights” amounted to 1.10 billion riyals in the current period, compared to 995.1 million riyals in the same period last year, an increase of 11.4%.

Earnings per share in the current period reached 3.22 riyals, compared to 2.36 riyals in the same period last year.

– The reason for the increase in net profit during the current quarter compared to the same quarter of the previous year is due to the increase in sales for the Petroleum and Transportation sectors, and the increase in other revenues in addition to interest income from investments listed at amortized cost despite the decrease in investment profits in the joint venture and the increase in marketing expenses and general and administrative expenses And financial expenses and zakat expenses.

--

The increase in total comprehensive income during the current quarter compared to the same quarter of the previous year, despite the increase in the re-measurement losses of employees’ defined benefits obligations.

-

– The reason for the increase in net profit during the current quarter compared to the previous quarter is due to the increase in sales for the petroleum and transport sectors, and the increase in interest income from investments listed at amortized cost despite the decrease in other revenues, the decrease in investment profits in the joint venture, the increase in marketing expenses, general and administrative expenses, financial expenses, and zakat expenses The increase in total comprehensive income during the current quarter compared to the previous quarter of the year, despite the increase in the re-measurement losses of employees’ defined benefits obligations.

– The reason for the increase in net profit during the current period compared to the same period of the previous year is due to the increase in sales for the oil and transport sectors, and the increase in other revenues in addition to interest income from investments listed at amortized cost despite the decrease in investment profits in the joint venture and the increase in marketing and general expenses Administrative and financial expenses and zakat expenses.

Total comprehensive income increased during the current period compared to the same period of the previous year, despite the increase in re-measurement losses for employees’ defined benefit obligations.

– additional information:
The adjustment of income from operating operations for the previous year, the fourth quarter of the previous year, and the previous quarter of the current year results from the reclassification of other revenues within the operating operations, in addition to adjusting the realized and unrealized profits from the re-evaluation of the investment at fair value through profit and loss.
The price of diesel has been revised.

-

--

NEXT Days before Blinken’s visit.. Beijing calls for “common ground” with Washington