National Gas and Industrialization Company (GASCO) reported its initial financial results for the second quarter of 2019.
Net profits after zakat and tax fell by 44.87% to SAR 17.84 million in Q2-19, compared to SAR 32.36 million in Q2-18, according to a filing to the Saudi Stock Exchange (Tadawul) on Wednesday.
Total revenues of the Saudi firm decreased by 2.4% to SAR 463.14 million during the three-month period between April and June, from SAR 474.75 million in the same period of the prior year.
For the first half of 2019, net profits of GASCO jumped by 66.6% to SAR 119.57 million, from SAR 71.77 million in H1-18.
The company’s revenues inched down by 0.84% year-on-year to SAR 958.42 million during the first six months of 2019.
Profit per share reached SAR 1.59 by the end of June, from SAR 0.96 in the corresponding period of 2018.