GAS profit up 29% to SAR 45.7M in H1 2024

07/08/2024 Argaam Exclusive
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GAS Arabian Services Co. (GAS) reported a 29% rise in H1 2024 net profit to SAR 45.7 million from SAR 35.5 million in the first half of 2023.

The first-half profit was spurred by a rise of 37% year-on-year (YoY) in revenue to SAR 481.5 million, reflecting the company’s solid performance across the board amid better demand for supply and new contracts.

 

The company also posted improved gross profit margins. 



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 351.22 481.54 37.1 %
Gross Income 52.25 91.24 74.6 %
Operating Income 11.44 36.85 222.1 %
Net Income 35.48 45.66 28.7 %
Average Shares 158.00 158.00 -
Earnings Per Share before unusual items 0.22 0.29 28.7 %
EPS (Riyals) 0.22 0.29 28.7 %

Total shareholders’ equity, no minority interest, stood at SAR 359.02 million as of June 30, 2024, compared to SAR 314.59 million a year earlier.

 

Historical Data

Period

Revenue (SAR mln)

Net Profit (SAR mln)

EPS (SAR)

H1 2021

139.89

15.44

0.10

H2 2021

246.58

44.62

0.28

H1 2022

188.99

17.85

0.11

H2 2022

307.05

49.53

0.32

H1 2023

351.22

35.48

0.22

H2 2023

370.29

45.99

0.29

H1 2024

481.54

45.66

0.29

 

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Share Price

Gas Arabian Services Co.
16.34
0.16 0.99 %

Gas Arabian Services Co. (GAS)

1 Day 0.99 % 5 Days 4.61 % 3 Months (7.16 %) 6 Months 35.04 % Year 51.86 % 2 Years 161.02 % 5 Years 55.62 % All 55.62 %
Created with Highstock 6.0.710:2010:4511:0511:3511:4511:5512:0012:0512:2012:5513:0013:2013:3513:5014:2514:4014:5015:0015:1015:2015.951616.0516.116.1516.216.2516.316.3516.4
Close : 16.34 | Mar 27, 15:20
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Financial Ratios
Current
Market Cap (M Riyal) 2,581.72
Enterprise Value (EV) (M) -
Shares Outstanding ((M)) 158.00
Book Value (BV) ( Riyal) 2.56
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 22.66
Price/book 6.38
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