Riyadh-Mubasher: Aldrees Petroleum and Transport Services posted SAR 33 million in net earnings for Q4-15, rising 5% compared with SAR 31.3 million in the same period a year ago.
Full-year net profits also increased 16.4% year-on-year from SAR 123.7 million to SAR 144 million.
The Tadawul-listed firm attributed Q4 profit growth to rise in sales of the petroleum segment and other revenues, in addition to eliminating the joint venture losses ..
The full-year profit rise was fuelled by high sales of the transport and petroleum segments as well as reduction in financial charges and increase in other income by SAR 6.9 million because of selling two petrol stations.
