TASI-listed GASCO sees 14% decline in H1 profits even as sales edge higher

TASI-listed GASCO sees 14% decline in H1 profits even as sales edge higher

RIYADH: Saudi-listed National Gas and Industrialization Co. saw its profits drop 14 percent during the first half of 2022, despite higher sales. Profits of the Riyadh-based gas firm reached SR105 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.