GASCO’s (2080) net profit increased to SAR 214.1 million at the end of 2022, compared to SAR 201.4 million in 2021.
GASCO, which retails gas for domestic and industrial uses in the Saudi market, said that the increase in its annual profits last year was mainly due to the increase in total profits by SAR 24 million, the growth of its revenues, and the decline in its operating expenses to SAR 10 million.
GASCO’s profits increased despite the decrease in investment revenues by SAR 42 million represented in the re-evaluation of investment funds, the dividends received from the National Industrial Gases, and profits from subsidiaries of around SAR 11 million.
EPS was SAR 2.85 in 2022, compared to SAR 2.68 in 2021.
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