GAS profit jumps 21% to SAR 81.5M in 2023

07/03/2024 Argaam Exclusive

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Gas Arabian Services Co.
10.00
(0.08) (0.79 %)

Gas Arabian Services Co. (GAS)

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Gas Arabian Services Co. (GAS) posted a 21% rise in 2023 net profit to SAR 81.5 million from SAR 67.4 million in 2022.



Financials (M)

Item 2022 2023 Change‬
Revenues 496.04 721.51 45.5 %
Gross Income 115.14 134.75 17.0 %
Operating Income 42.62 45.11 5.9 %
Net Income 67.39 81.47 20.9 %
Average Shares 158.00 158.00 -
EPS (Riyals) 0.43 0.52 20.9 %

The profit growth was spurred by higher revenues and improved profits of associates.



Total shareholders’ equity, no minority interest, reached SAR 360.69 million as of Dec. 31, 2023, compared to SAR 317.16 million a year earlier.

                                                      GAS Interim Financial Results

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

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

49.54

0.32

H1 2023

351.22

35.48

0.22

H2 2023

370.29

45.99

0.29

 

View More Financial Results

 

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