RIYADH: Shares of Saudi-listed National Gas and Industrialization Co. ended 1.04 percent lower on Wednesday after reporting 14 percent decline in net profit during the first half of this year.
Profits of the Riyadh-based gas firm reached SR105 million ($28 million) in the first half of 2022, down from SR122 million in the same period last year, according to a bourse filing.
This came despite an increase in revenue which reached SR989 million during the same period.
The company attributed the weak performance to a SR21 million decline in investments’ income and a decrease in investing fund revenues.
