Saudi petroleum retailing service provider Aldrees’s shares jump after 39% profit surge

RIYADH: Aldrees Petroleum and Transport Services Co. has seen its profit increase by 39 percent for the first nine months of 2022, bolstering its stock price.

Aldrees’s shares jumped 1.52 percent to reach SR73.60 ($19.6) at the closing of Monday, compared with SR72.50 at the previous close.

The fuel service station provider’s profit rose to SR170 million from SR123 million a year ago, a bourse filing shows.

The company said the increase in profits stemmed from increases in petrol and transport sales.

Revenues of the company stood at SR9 billion, a 39 percent increase from the same period of last year.