By: Aseel bin Taleb
Riyadh – Mubasher: Saudi National Gas and Industrialization Company (GASCO) is seeking to enhance the company’s operational efficiency and rationalise expenditures to reduce the financial impact of high energy prices, the CEO, Eyas Alhajery, said.
“GASCO is working at full capacity to achieve best results this year and in the future,” Alhajery added, expecting operating costs to reach SAR 15 million.
The company earlier posted a net profit of SAR 49.72 million ($13.26 million) in the first quarter of fiscal 2016, rising 19.3% from SAR 41.68 million ($11.12 million) in Q1-15.
This growth was fuelled by sales and other revenues that increased by SAR 28.77 million and SAR2.07 million respectively.
Translated by: Elwy el-Manzalawy
