RIYADH: Saudi-listed National Gas and Industrialization Co. saw its profits soar 47 percent in 2021 even as sales edged lower
In line with profits, the company’s board proposed a half-year cash dividend payout of SR56 million ($15 million) or SR0.75 per share.
Profits of the Riyadh-based gas firm hit SR202 million, compared to SR137 million a year earlier, according to a bourse filing.
This came despite a drop in revenue of 3 percent year-on-year to reach SR1.9 billion.
The company attributed the improved figures to higher operational efficiency that led to lower costs as well as increased income from investments.
