GAS Arabian Services Co. (GAS) reported a 29% rise in H1 2024 net profit to SAR 45.7 million from SAR 35.5 million in the first half of 2023.
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 351.22 | 481.54 | 37.1 % |
| Gross Income | 52.25 | 91.24 | 74.6 % |
| Operating Income | 11.44 | 36.85 | 222.1 % |
| Net Income | 35.48 | 45.66 | 28.7 % |
| Average Shares | 158.00 | 158.00 | - |
| EPS (Riyals) | 0.22 | 0.29 | 28.7 % |
The first-half profit was spurred by a rise of 37% year-on-year (YoY) in revenue to SAR 481.5 million, reflecting the company’s solid performance across the board amid better demand for supply and new contracts.
The company also posted improved gross profit margins.
Total shareholders’ equity, no minority interest, stood at SAR 359.02 million as of June 30, 2024, compared to SAR 314.59 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2021 |
139.89 |
15.44 |
0.10 |
|
H2 2021 |
246.58 |
44.62 |
0.28 |
|
H1 2022 |
188.99 |
17.85 |
0.11 |
|
H2 2022 |
307.05 |
49.53 |
0.32 |
|
H1 2023 |
351.22 |
35.48 |
0.22 |
|
H2 2023 |
370.29 |
45.99 |
0.29 |
|
H1 2024 |
481.54 |
45.66 |
0.29 |
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