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Gas profits rise to 9.6M Riyals in H1
The natural gas distribution company announced a significant increase in its profits during the first half of 2026, with net earnings reaching 9.57 million riyals—a rise of 325.8% compared to the same period last year. This surge occurred despite only a modest revenue growth of 6.1%, amounting to 79.88 million riyals. The increase is attributed to adjustments in the gas service tariff, the addition of new customers, and a 4% reduction in operational costs. Additionally, the company experienced a 20% increase in shareholders' equity, reaching 70.85 million riyals, and earnings per share rose to 1.9 riyals from 0.45 riyals in the first half of 2025.
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