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Al-Drees Petroleum and Transport Services Company announced an increase in its net profits by 22.3 percent during the third quarter of 2026, to reach 137.6 million riyals ($36.7 million), compared to about 112.5 million riyals ($30 million) in the same quarter of the previous year.

The company stated, in a statement on the Saudi Stock Exchange “Tadawul” website, today, Wednesday, that the increase in profits is due to the increase in sales in the “Naqil” and “Petroleum” sectors, and the increase in the return on investment in sukuks, despite the decrease in bank deposit revenues and other income and investment results in the joint project, in addition to an increase in selling, general and administrative expenses, financial burdens and zakat expenses.

On a quarterly basis, the company’s profits increased by 11.1 percent, compared to the second quarter of 2026, when it reached 123.9 million riyals ($33 million).

During the third quarter, Aldrees’ revenues grew by 16.4 percent on an annual basis, reaching 7.98 billion riyals ($2.13 billion), compared to about 6.85 billion riyals ($1.83 billion) in the same quarter of the previous year, as a result of the expansion in the number of stations and the increase in trucks.

The company's shares rose by 1.79 percent to 114 riyals, following the announcement.

Most Gulf stock markets fell in early trading, Wednesday, after Iran announced that it would not hold talks with the United States to end the war before its demands were met, at a time when oil prices rose with continued concerns about crude supplies in the region.

The main Saudi market index fell by 0.1 percent, affected by the decline in Alinma Bank’s stock by 3.6 percent, after the bank announced a decline in its profits during the third quarter.

On the other hand, Saudi Aramco shares rose by 0.2 percent, coinciding with the rise in Brent crude futures by $1.61, or 1.5 percent, to $110.40 per barrel by 06:30 GMT.

In the UAE, the Dubai Financial Market index fell by 0.2 percent, with Emaar Properties shares falling by 0.5 percent, while the Abu Dhabi Market index fell by 0.6 percent.

On the other hand, the Qatari index rose by 0.6 percent, heading towards ending a series of losses that continued for five consecutive sessions.