Financial Results : GAS profit leaps 40% to SAR 81M in 9M 2024

GAS profit leaps 40% to SAR 81M in 9M 2024

31/10/2024 Argaam Exclusive

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Gas Arabian Services Co. (GAS) reported a net profit of SAR 81 million for 9M 2024, a leap of 40% from SAR 57.7 million a year earlier.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 534.06 769.26 44.0 %
Gross Income 102.86 151.99 47.8 %
Operating Income 58.69 81.62 39.1 %
Net Income 57.73 80.99 40.3 %
Average Shares 158.00 158.00 -
EPS (Riyals) 0.37 0.51 40.3 %

The profit growth was attributed to a 44% increase year-on-year (YoY) in revenues to SAR 769 million, as well as lower operating expenses.



Total shareholders’ equity, no minority interest, stood at SAR 370.7 million as of Sept. 30, 2024, up from SAR 337.26 million in the year-earlier period.

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