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  • 18-10-21

    Saudi Aldrees Co. reports 50 percent net profit rise in 9 months

    (MENAFN)Aldrees Petroleum and Transport Services Co. that is one of the biggest operators of fuel stations in the Kingdom proclaimed a 50 percent net profit increase in the January-September period of 2021, in another sign that Saudi Arabian economy is rebounding from COVID-19 pandemic.

    The company further declared that in the January-September period of 2020, income increased from SR81.6 million, to SR122.7 million in the same time span of 2021. This development is attributable to an increase in sales of transport and petroleum services sector, in addition to the reevaluation of its investments.

    According to Saudi official data posted on JODI database, demand for gasoline was noticeably higher in the first seven months of the current year from a year ago.

    The dissimilarities were unadulterated in April and May as demand reached 400 thousand barrels per day (kb/d) in comparison to same two months in 2020 when demand stayed below 300 kb/d.

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