Luberef profits decline by 34.2% during Q2 to 298.8 million riyals

Saudi Aramco Base Oil Company – Luberef revealed a decline in net profit during the second quarter to 298.8 million riyals compared to 454.8 million riyals in the same quarter last year by 34.2%, following the announcement today of the preliminary financial results for the period ending June 30, 2024 (six months).

Operating profit amounted to 316.2 million riyals in the second quarter compared to 480.6 million riyals in the same quarter of the previous year, a decrease of 34.2%.

Total equity (after excluding non-controlling interests) amounted to 4.5 billion riyals in the 6-month period compared to 5.14 billion riyals in the same period last year, a decrease of 11.3%.

Earnings per share in the current period reached 3.2 riyals compared to 5.35 riyals in the same period last year.