8 Hrs
الاقتصادية
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الاقتصادية

2026-11-09T06:53:55.388Z

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ADES profit falls 56%

ADES profit falls 56%

ADES Holding’s net profit fell 56% year on year in the third quarter to SAR 95 million, compared with SAR 214 million in the same period a year earlier. The company attributed the decline to the temporary suspension of drilling rig operations amid geopolitical tensions, as well as higher depreciation, interest and insurance expenses, despite a 35% increase in revenue to SAR 2.22 billion.

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