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Gas firm profits reach 9.6M riyals in H1 2026
The Natural Gas Distribution Company announced a 325.8% increase in its net profits during the first half of 2026, reaching 9.57 million riyals compared to 2.25 million riyals in the same period last year. This surge occurred despite only a 6.1% growth in revenues, which amounted to 79.88 million riyals, due to adjustments in the gas service tariff and the addition of new customers. Additionally, a 4% reduction in operating costs and increased investment profits contributed to the improved results, with shareholders' equity rising by 20% to 70.85 million riyals, and earnings per share increasing to 1.9 riyals.
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