According to Arab Net, Gazko said in a statement that net profit was mainly due to increased revenues worth 40.5 million riyals, and a decrease of operating expenses worth SR 16.6 million, despite the costs of the early retirement program for the employees of 4.3 million riyals.
He added that the increase in profits is also due to an increase in the quota from the results of a million riyals, and increased other resulting revenues from the sale of SR 10.1 million carriers, as well as the decline in Zakat expenses worth SR 23 million.
According to Arab accounts, net profit has reached SR 86.5 million, in the fourth quarter of 2020, against losses of about 22.4 million riyals in the same quarter of 2019.
