Aldrees Petroleum and Transport Services Co. (ALDREES) announces its interim Financial results for the period ending on 30/06/2024 (Six Months)
| Element List | Current Quarter | Similar Quarter For Previous Year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 4,601.1 | 3,580.6 | 28.5 | 4,357.8 | 5.583 |
| Gross Profit (Loss) | 200.1 | 168.9 | 18.472 | 189.5 | 5.593 |
| Operational Profit (Loss) | 128.02 | 104.4 | 22.624 | 119.6 | 7.04 |
| Net profit (Loss) | 82.41 | 70.2 | 17.393 | 77.4 | 6.472 |
| Total Comprehensive Income | 83.57 | 70.2 | 19.045 | 63.2 | 32.231 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar Period For Previous Year | %Change |
|---|---|---|---|
| Sales/Revenue | 8,959 | 6,999.2 | 28 |
| Gross Profit (Loss) | 389.6 | 332.2 | 17.278 |
| Operational Profit (Loss) | 247.6 | 207.8 | 19.153 |
| Net profit (Loss) | 159.8 | 140.8 | 13.494 |
| Total Comprehensive Income | 146.8 | 140.8 | 4.261 |
| Total Shareholders Equity (after Deducting Minority Equity) | 1,307.7 | 1,100.1 | 18.871 |
| Profit (Loss) per Share | 1.6 | 1.41 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage Of The Capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The reason for the increase of sales for the current quarter compared with the same quarter last year due to the increase in operating stations and transport trucks. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason for the increase of net profit for the current quarter compared with the same quarter last year is due to the increase of Petrol and Transport Division sales, increase of deposit income, and Sukuk, and increase of income of the joint venture project investment. Although there is a decrease in the other income and increase of Marketing and Selling and General, Administrative, Financing costs and Zakat expenses.
Total comprehensive income increased during the current quarter compared to the same quarter of the previous year, due to the remeasurement losses of employees' defined benefits obligations. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The reason for the increase of sales for the current quarter compared with the previous quarter is due to the increase in operating stations, although there is a slight reduction in operating trucks. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The reason for the increase of net profit for the current quarter compared with the previous quarter is due to the increase of Petrol and Transport Sales, increase of deposit income and Sukuk, and decrease of Marketing, Selling expenses although there is increase in General, Administrative, Financing costs and the decrease in other income and the joint venture project investment .
The increase in total comprehensive income during the current quarter compared to the previous quarter, due to the increase in the remeasurement losses of employees' defined benefit obligations. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The reason for the increase of sales for the current period compared with the same period last year due to the increase in operating stations and transport trucks. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The reason for the increase of net profit for the current period compared with the same period last year is due to the increase of Petrol and Transport Division sales, increase of deposit income, and Sukuk, and increase of income of the joint venture project investment. Although there is a decrease in the other income and increase of Marketing and Selling and General, Administrative, Financing costs and Zakat expenses.
Total comprehensive income increased during the current period compared to the same period of the previous year, due to the remeasurement losses of employees' defined benefits obligations. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | Nothing |
| Reclassification of Comparison Items | Certain comparative figures for the previous quarter have been reclassified to conform with the current quarter classification. |
| Additional Information | The number of shares has been retrospectively adjusted for the prior period to reflect the effect of the bonus share issue, as the company’s capital was increased from 75 million shares to 100 million shares after the approval of the Extraordinary Assembly meeting held on May 05, 2024. |
