GIS reports net profit of QR145m for nine-month period

Gulf International Services (GIS) announced a net profit of QR145m for the nine-month period concluded on 30 September 2026, with earnings per share reaching QR0.078. The Drilling segment's performance stabilized in the third quarter of 2026 as offshore rigs resumed operations after temporary suspensions, while onshore activities remained consistent.

GIS is committed to optimizing asset utilization, maintaining operational readiness, and meeting customer demands. The company secured contract extensions with an existing client for three jack-up rigs, extending the contracts for up to four years, reflecting client confidence and increased stable utilization. One leased offshore jack-up rig terminated its contract in the current quarter.

GIS's aviation segment experienced an uptick in performance as most aircraft returned to service, aiding the recovery of domestic flight activity following a slower start to the year. Al Koot Insurance continued to perform well, driven by disciplined execution, and remained a steady contributor to the Group. However, the catering segment saw a modest profit decline due to higher food and operating costs caused by logistical constraints and increased input costs.

Overall, GIS reported lower revenue for the nine-month period compared to the same period in the previous year, mainly due to decreased contributions from the drilling and aviation segments. GIS will hold an Investor Relations earnings call on 5 November 2026, at 1:30pm Doha time, to present the latest financial results.