“Gas” profits increase 9.4% to 248.7 million riyals in 2024

The net profit of the gas and manufacturing company in 2024 increased by 9.4% to 248.7 million riyals, compared to 227.3 million riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, the rise in the net profit is due to:
– The total profit increased 56.6 million riyals as a result of the increase in revenues.
– Zakat expense decreased by 24.4 million riyals, and this is mainly due to the reflection of the zakat allowance after the completion of the incomplete zakat tests for the previous years until 2020.
– Other revenues increase by 5.6 million riyals.
This came despite:
– The increase in operational expenses by 38.8 million riyals.
– Decreased investment and financing revenues by 24 million riyals.
-The share in the results of the business of associate companies by 0.9 million riyals.
– The increase in financing expenses by 1.5 million riyals.