Latest news with #Aldrees
Argaam
2 days ago
- Business
- Argaam
Aldrees opens new station in Shaqra
Aldrees Petroleum and Transport Services Co. opened a new station in Shaqra, Al-Rawdah district. The station has a full range of facilities and brings the total number of stations to more than 1,150, the company said on its official X account. Aldrees had 1,050 stations by the end of 2024, it noted.
Argaam
23-04-2025
- Business
- Argaam
Aldrees CEO: Deposit, sukuk returns exceed SAR 14M in Q1
Aldrees Petroleum and Transport Services Co. realized SAR 7.2 million revenue on bank deposits, while returns on investment in sukuk reached SAR 7.1 million in Q1 2025, CEO Abdulilah Aldrees told Argaam in an interview. At the meantime, there are currently no plans to raise these investments, the CEO added. He explained that the growth of Q1 2025 profit is driven by the increase sales in the transport and oil services segments, in addition to higher revenues from bank deposits and investments in sukuk, and improved results from the joint venture. Aldrees' Q1 2025 sales emanated from SAR 5.64 billion for the oil services segment and SAR 188.8 million for the transport business, bringing the company's total sales to SAR 5.83 billion. Such positive performance was achieved despite a decline in other revenues, an increase in selling, marketing, general, and administrative expenses, and an increase in financing and Zakat expenses, the exec noted. He further clarified that the revenues growth was supported by the expansion in the number of stations, higher transportation prices, and improved operational efficiency. The company's stations reached 1,147 by the end of the three-month period. Meanwhile, Aldrees pointed out that the company expects continued profit growth during Q2 2025.
Arab News
22-04-2025
- Business
- Arab News
Closing Bell: Saudi main index rebounds to close at 11,586
RIYADH: Saudi Arabia's Tadawul All Share Index rebounded on Tuesday, as it gained 37.74 points or 0.33 percent to close at 11,586.40. The total trading turnover of the main index was SR5.41 billion ($1.44 billion), with 101 stocks advancing and 136 declining. The Kingdom's parallel market, Nomu, edged down by 1.24 percent to close at 28,281.76. The MSCI Tadawul Index gained 8.09 points to 1,474.60. The best-performing stock on the benchmark index was Saudi Fisheries Co. The firm's share price increased by 10 percent to SR112.20. The share price of AlJazira REIT also rose by 9.91 percent to SR15.52. Alistithmar AREIC Diversified REIT Fund also saw its stock price increase by 9.90 percent to SR8.77. Conversely, the share price of Jahez International Co. for Information System Technology declined by 3.33 percent to SR27.55. On the announcements front, Aldrees Petroleum and Transport Services Co. revealed that its net profit for the first quarter of this year reached SR100.1 million, representing a rise of 29.32 percent compared to the same period in 2024. Compared to the fourth quarter of 2024, Aldrees' net profit increased by 6.94 percent. In a press statement, Aldrees attributed the rise in profit to higher sales from the company's petrol and transport division. The share price of Aldrees edged up by 1.81 percent to SR135. In a Tadawul statement, the Saudi National Bank said that its net profit for the first three months of this year witnessed a year-on-year rise of 19.48 percent to reach SR6.02 billion. The financial institution said that the rise in profit was driven by a 7.56 percent rise in operating revenue during the first quarter compared to the same period of the previous year. The stock price of SNB increased by 3.98 percent to SR35.25.
