Abdulilah AldreesCEO ofAldrees Petroleum and Transport Services Co.stated that the increase in the business’s revenue in the very first quarter of 2024 was driven by the boost in sales from the petroleum and transportation sections.
He informed Argaam that the boost in net earnings is likewise driven by the boost in incomes from bank deposits and financial investment in Sukuk, along with by the enhancement in financial investment lead to the joint endeavor regardless of the decrease in other earnings and the boost in selling and marketing costs, basic and administrative expenditures, funding expenses and Zakat.
He specified that sales of the petroleum section totaled up to SAR 4.23 million, while sales of the transportation sector reached SAR 122.6 million, bringing the business’s overall sales in Q1 2024 to about SAR 4.35 billion.
The variety of Aldrees’ stations reached 897 by the end of Q1 2024, while the variety of trucks reached 1,578, consisting of 542 trucks designated for carrying petroleum, according to the magnate.
When it comes to competitors in the stations sector, Aldrees stated that his business has tactical strategies that it looks for to accomplish, mentioning that competitors enhances the services offered to the customer, which the business looks for to continue at the very same level and preserve its management in the field of petroleum services.
He included that the business’s efficiency in Q2 2024 will be according to the approximated budget plan.
Aldrees made a net revenue of SAR 77.4 million in Q1 2024, up 10% from SAR 70.5 million in the prior-year duration, according to Argaam’s information.