Riyadh – Mubasher: Aldrees Petroleum and Transport Services Company generated a net profit worth SAR 338 million in 2024, signalling a 20.37% increase from SAR 280.80 million in 2023.
The company witnessed a 30.02% annual growth in revenue to SAR 19.28 billion during the January-December 2024 period, compared with SAR 14.83 billion, according to the financial results.
The earnings per share (EPS) rose to SAR 3.38 in 2024 from SAR 2.81 in 2023.
Income Statements for Q4-24
During the fourth quarter (Q4) of 2024, Aldrees posted a 29.10% year-on-year (YoY) surge in net profit to SAR 93.60 million from SAR 72.50 million.
The revenue also soared by 32.84% to SAR 5.24 billion in Q4-24, compared with SAR 3.95 billion in Q4-23.
On a quarterly basis, the net profits of Aldrees in Q4-24 were 10.63% higher than SAR 84.60 million in Q3-24 and the revenue increased by 3.34% from SAR 5.07 billion.
Dividends Recommendation for 2024
The board members of Aldrees proposed, in their 21 January 2025 meeting, a cash dividend of SAR 1.50 per share for 2024.
The company will pay a total of SAR 150 million for 100 million eligible shares. Meanwhile, it will announce the eligibility and distribution dates at a later time.
During the first nine months (9M) of 2024, Aldrees achieved net profits worth SAR 244.50 million and revenue of SAR 14.03 billion.
