Gas and NGO profits increased by 479% in the first quarter of 2021.
According to Arab Net, the company said its profits rose 6 times to 85.2 million riyals, compared to 14.7 million riyals during the same period last year.
The rise in net profit is due to SR 70.5 million mainly to SAR 7.6 million due to the low cost of public and administrative revenues and expenses as a result of some initiatives by the company, which contributed to improving operating efficiency and reducing costs, including early retirement program. p>
The company attributed the reason for increased earnings to high investment revenues to receive dividends from the National Industrial Gases of SR 33.8 million and increased revaluation of investment funds for SAR 24.1 million, and increased investment income in associates at 4.7 million riyals. / p>
