Ades Holding Revenue Surges 44% but Profit Falls 23%
Riyadh, Saudi Arabia — Ades Holding posted nine-month revenue of 6.77 billion SAR, up 44% year-over-year. However, net profit attributable to shareholders fell 23% to 459.8 million SAR, as higher depreciation, interest costs, and non-recurring insurance expenses weighed on margins. The revenue surge reflects fleet expansion, international growth, and contributions from the Shelf and Saipem […]…
We haven't written up this one. The Saudi Standard has the full story — the link below goes straight to it.
