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Company News, Business

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

GASCO 9M 2023 profit up 16%

In Q3 2023, net profit rose slightly by 0.4% to SAR 57.2 million from SAR 56.98 million in Q3 2022. (GASCO)
By Hilal Mir
November 6, 2023 5:17 pm
  • GASCO noted an increase in revenue and financing income, along with higher share of results from associates.
  • In Q3 2023, net profit rose slightly by 0.4 percent to SAR 57.2 million from SAR 56.98 million in Q3 2022.

Riyadh, Saudi Arabia — National Gas and Industrialization Co. (GASCO) posted a 16 percent profit increase in the first nine months of 2023 to SAR 184.7 million ($49.23 million), compared to SAR 159.4 million in the year-earlier period.

GASCO noted an increase in revenue and financing income, along with higher share of results from associates. In addition, operating expenses and financing cost edged lower, Argaam reported.

Meanwhile, other income and investment income declined.

In Q3 2023, net profit rose slightly by 0.4 percent to SAR 57.2 million from SAR 56.98 million in Q3 2022.

On a sequential basis, the bottom line grew 4.9 percent from SAR 54.52 million in Q2 2023.

Shareholders’ equity, no minority interest, reached SAR 1.83 billion as of Sept. 30, 2023, up from SAR 1.69 million a year earlier, Argaam reported.

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