Aldrees says fuel stations’ profit margin increase implemented retroactively as of August 2018

07/04/2020 Argaam Special

 

Aldrees Petroleum and Transport Services Co. (Aldrees) said the ministry of energy's decision to increase the profit margins of fuel stations was implemented retroactively as of August 23, 2018, according to a company statement.

 

The relevant net financial impact reached SAR 55 million in 2018 and SAR 160 million in 2019, the statement added.

 

Aldrees' net earnings increased to SAR 291.7 million in 2019, compared to SAR 66.9 million in 2018, Argaam reported.

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