“Go Communications” achieved an increase in its net profits during the third quarter of 2026 by 10.77 percent, to reach 72 million riyals ($19.2 million), compared to 65 million riyals ($17.3 million) in the same period of the previous year.
The company explained, in a statement published by the Saudi Stock Exchange (Tadawul), that the increase in profits is mainly due to an increase in revenues of about 93 million riyals ($24.8 million), offset by an increase in the cost of revenues of about 74 million riyals ($19.7 million), in addition to an increase in selling and marketing expenses, general and administrative expenses, and a decrease in other revenues, with a net effect of 13 million riyals ($3.5 million), compared to a decrease in the allowance for expected credit losses of 5 million riyals. ($1.3 million).
She pointed out that the increase in operating costs and expenses came as a result of supporting the expansion of the group’s business, in conjunction with the implementation of initiatives to increase operational efficiency and rationalize costs.
The company's revenues increased during the third quarter by 19.79 percent to 563 million riyals ($150.1 million), compared to 470 million riyals ($125.3 million) in the same quarter of the previous year. The company attributed this growth to an increase in business sales sector revenues by 5 percent, equivalent to 11 million riyals ($2.9 million), as a result of increased sales from implementing projects with government agencies and private sector companies, in addition to a growth in wholesale sector revenues by 53 percent, equivalent to 99 million riyals ($26.4 million).
Regarding the results for the period ending September 30, 2026, the group’s net profits increased by 10.24 percent to 140 million riyals ($37.3 million), compared to 127 million riyals ($33.9 million) during the similar period of the previous year. The company attributed this increase to an increase in revenues of 203 million riyals ($54.1 million), offset by an increase in revenue costs of about 169 million riyals ($45.1 million), in addition to a decrease in the provision for expected credit losses of 6 million riyals ($1.6 million).
The group's revenues also increased during the period by 22.43 percent to 1.108 billion riyals ($295.5 million), compared to 905 million riyals ($241.3 million) in the same period of the previous year.
The company attributed this growth to an increase in business sector sales by 11 percent, equivalent to 42 million riyals ($11.2 million), and a growth in wholesale sector sales by 55 percent, equivalent to 193 million riyals ($51.5 million).
Egypt raised the percentage of natural gas reduction for fertilizer factories to 33 percent, in an effort by the country to reduce the need to import liquefied natural gas, which is an expensive option.
A statement issued by a company and officials in the fertilizer sector, on Sunday, stated that fertilizer producers in Egypt have been informed of a new 33 percent reduction in natural gas supplies directed to them.
The Misr Fertilizer Production Company (MOPCO) stated that it had received notification of this reduction, which comes after a previous 20 percent reduction in gas supplies to fertilizer factories.
Egypt relies on domestic gas, and increasingly on imported liquefied natural gas, to generate energy. However, local production is having difficulty keeping up with increasing demand. Geopolitical tensions - including war in the region - have also tightened global LNG markets and pushed up prices.
In early November, the government began reducing natural gas supplies directed to fertilizer and methanol factories by 20 percent, as part of measures to rationalize gas consumption and manage available quantities, with the high cost of importing. According to “Al Sharq Bloomberg”.
When announcing the previous reduction, MOPCO and Abu Qir Fertilizers and Chemical Industries stated that they would work to manage production in proportion to the quantities of gas available. Abu Qir Company indicated that it has contingency plans to manage inventory and reschedule maintenance work.
In a related context, Egypt has intensified its imports of less expensive fuel oil. Commercial sources told Reuters last month that the Egyptian General Petroleum Corporation had purchased six shipments of high-sulfur fuel oil to be supplied during the months of November and December.
LNG imports have increased this year, reaching their peak in July, before declining starting in August.
An analyst pointed out in October that the Ministry of Petroleum had allocated a budget of about $10.1 billion for liquefied natural gas in the fiscal year 2026-2027, but prices were higher than the ministry’s estimates. The analyst explained that the ministry had already spent $5.8 billion by October 6, indicating the possibility of exceeding the allocated budget before the arrival of the spring and summer seasons, a period that usually witnesses a rise in demand.
The Bahraini Minister of Transport and Communications, Sheikh Abdullah bin Ahmed Al Khalifa, affirmed that the integration of transport and communication networks between the countries of the Gulf Cooperation Council represents a fundamental pillar of Gulf economic security, in light of the regional and international challenges facing navigation and supply chains. He pointed out that the risks associated with vital sea lanes, most notably the Straits of Hormuz and Bab al-Mandab, and the accompanying disruptions in supply chains and high shipping costs, require strengthening coordination and joint response and developing transportation alternatives.
The minister said, during the agreement signing ceremony held today, Sunday, in the Bahraini capital, Manama, that the discussions focused on enhancing connectivity between ports, roads, railways, and airports, in a way that supports the continuity of supplies and the flow of trade, and limits the repercussions of unrest on individuals and the business sector.
He added that the general agreement to connect the GCC countries to the railway project, which was signed today, represents an essential step to complete the legal and regulatory frameworks for the project, enhance coordination between member states to proceed with its implementation, and establishes a new phase of connectivity and integration, opening broader horizons for trade, investment and movement between the Gulf states.
He explained that the expected impact of the project goes beyond facilitating transportation, to include improving the quality of life for citizens, residents, and visitors, by providing safe and sustainable travel options, enhancing communication between Gulf communities, supporting tourism and job opportunities, and raising the efficiency of transporting goods to markets.
He pointed out that the agenda of the thirtieth meeting of the GCC Ministers of Transport and Communications included 32 topics that dealt with the priorities of developing the transport sector and logistical integration, the most prominent of which was completing the railway project, international land transport, developing the executive frameworks for maritime transport, and enhancing the sector’s readiness to deal with crises.
The Minister announced the signing of two memorandums of understanding today, the first with Saudi Arabia for cooperation in the field of railways, and the second with Qatar regarding bilateral cooperation in the fields of land transport and supporting logistics services, with the aim of supporting the exchange of experiences, developing capabilities, and enhancing technical and organizational cooperation.
The minister's statements came during Bahrain's hosting of the thirtieth meeting of the Ministers of Transport and Communications of the Gulf Cooperation Council countries, which was held under the Kingdom's presidency of the current session of the committee, before handing over its presidency to Saudi Arabia.
