Riyadh – Mubasher: Gas Arabian Services Company inked an agreement worth SAR 107.79 million with Advanced Polyolefins Industry Company on 19 December 2022.
The 16-month deal covers the procurement and construction of propane gas pipelines, along with blending and metering skids, according to a bourse disclosure.
Gas Arabian Services pointed out that the contract, which was awarded on 13 September 2022, will reflect on its income statements in 2023.
In the first half (H1) of 2022, the Tadawul-listed firm reported net profits after Zakat and tax worth SAR 17.84 million, an annual growth of 15.60% from SAR 15.44 million.
Revenues enlarged by 35.10% to SAR 188.98 million in H1-22 from SAR 139.88 million in H1-21, while the earnings per share (EPS) increased to SAR 1.13 from SAR 1.02.
