Aldrees’ net income was up 29.1% y-o-y 4Q 2024

Tadawul-listed Aldrees Petroleum’s net income rose 29.1% y-o-y to SAR 93.6 mn in 4Q 2024, driven by increased sales in its petrol and transport division and healthier JV investment returns, according to a disclosure to Tadawul. Meanwhile, revenues grew 32.8% to SAR 5.2 bn, on the back of the company setting up more operating stations and improving transportation rates.

In 2024, Aldrees’ bottomline increased 20.4% y-o-y to SAR 338 mn, while its topline rose 30% to SAR 19.3 bn.

ALSO- Aldrees will distribute SAR 150 mn in dividends at SAR 1.5 apiece for FY 2024, according to a separate filing. The distribution date is yet to be disclosed.