Saudi station network Aldrees sees 44% profit surge in H1 on higher sales

RIYADH: Aldrees Petroleum and Transport Services Co. has seen its profit increase by 44 percent for the first half of 2022.

The fuel service station provider’s profit rose to SR108 million ($29 million) from SR75.3 million a year ago, a bourse filing shows.

The company said the increase in profits stemmed from increases in both petrol and transport sales.

Following the announcement, the company’s shares rose 0.56 percent during afternoon trading to SR72.20, as of 12:45 p.m. Saudi time.

At the closing bell, the stock price slightly retreated to SR71.80.