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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Arabian Drilling to pay $60m dividend

Arabian Drilling Company is one of the largest Saudi onshore and offshore drilling contractor.
By TRENDS Desk
March 18, 2024 11:05 pm
  • The company posted a net profit SAR 605 million in 2023, up 8 percent compared to SAR 558 million in 2022.
  • The fourth-quarter net earnings jumped 34 percent to SAR 183 million from SAR 137 million in Q4 2022.

Riyadh, Saudi Arabia — Arabian Drilling Company has approved a cash dividend of SAR 225. 17 million ($60 million or 25.3 percent) for the second half of 2023.

The dividend will be paid on April 2 and this is the second installment of the total dividend of SAR450.34 million for 2023, the company said in a Tadawul filing.

The company posted a net profit SAR 605 million in 2023, up 8 percent compared to SAR 558 million in 2022.

In a statement to Tadawul, the company attributed the rise in profits to a rise in revenue primarily due to higher rig activity, as well as increased day rates of certain rigs.

Between Q4 2022 and Q3 2023, the company started operating five additional offshore rigs, which boosted its full-year revenue.

The fourth-quarter net earnings jumped 34 percent to SAR 183 million from SAR 137 million in Q4 2022.

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