The financial statements of Aldrees Petroleum and Transport Services Company showed that the first quarter profits of this year increased slightly by 1.3% on an annual basis.

According to the results of the company for the Saudi market (Tadawul) yesterday, Tuesday, the profit for the period amounted to 30.3 million riyals, compared to the profits for the corresponding period of 2019 of 29.9 million riyals. p>

The company said in a statement to the stock exchange that the increase in profits during the comparison periods is due to the increase in sales to the petroleum sector, an increase in investment profits in the joint venture, and a decrease in marketing and zakat expenses. p>

She said that the increase came despite a decrease in carrier sales, a decrease in other income, an increase in general and administrative expenses, financial expenses and unrealized losses from a revaluation of investment at fair value through profit and loss.