Financial Results : GAS profit leaps 99% to SAR 35.5 mln in H1 2023

GAS profit leaps 99% to SAR 35.5 mln in H1 2023

15/08/2023 Argaam Exclusive

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Gas Arabian Services Co. (GAS) posted a 99% leap in H1 2023 net profit to SAR 35.5 million, compared to SAR 17.9 million a year earlier.

The higher profit was attributed to a rise in total sales and an increase in profit share from associates during the current period.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 188.99 351.22 85.8 %
Gross Income 35.73 52.25 46.2 %
Operating Income 1.99 11.44 476.4 %
Net Income 17.85 35.48 98.8 %
Average Shares 158.00 158.00 -
Earnings Per Share before unusual items (Riyals) 0.11 0.22 98.8 %
EPS (Riyals) 0.11 0.22 98.8 %

Shareholders' equity, no minority interest, amounted to SAR 314.59 million by the end of the current period, compared to SAR 264.41 million a year earlier.

 

                                     Historical Development of Financials (SAR mln) 

Period

Revenues

(SAR mln)

Net Earnings

 (SAR mln)

EPS

(SAR/Share)

H1 2020

130.13

9.49

0.06

H2 2020

191.88

63.82

0.40

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

 

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