The quarterly results of Aldrees Petroleum and Transport Services Company showed an increase in the profits for the first quarter of this year by 35.3% on an annual basis.
According to the results of the company for the Saudi market, today, Wednesday, the profits for the first quarter of this year amounted to 29.9 million riyals, compared to a profit of 22.1 million riyals for the same period in 2018.
The company's sales and revenues increased during the comparative periods from 1299.8 million riyals to 1285.2 million riyals, a growth of 1.1%.
The company said that the increase in the quarterly profits is due to the increase in sales to the transport sector and the increase in other revenues and the decrease in selling and marketing expenses and financial expenses despite the increase in general and administrative expenses and Zakat expenses. p>
Al-Drees ’profits increased 29.4% in the last year, to reach 83.6 million riyals, compared to a profit of 64.6 million riyals in 2018.
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