Riyadh – Mubasher: Power and Water Utility Company for Jubail and Yanbu (Marafiq) recorded net profits of SAR 117.94 million in the first quarter (Q1) of 2025, an annual hike of 72.57% from SAR 68.34 million.
Revenues increased by 6.54% year-on-year (YoY) to SAR 1.703 billion in Q1-25 from SAR 1.599 billion, according to the financial results.
The earnings per share (EPS) jumped to SAR 0.47 as of 31 March 2025 from SAR 0.27 in the year-ago period.
Quarterly, the Q1-25 revenues edged down by 0.18% from SAR 1.707 billion in October-December 2024.
The company turned profitable in the three-month period that ended on 31 March 2025, against losses of SAR 370.73 in Q4-24.
At the end of December 2024, Marafiq posted 97.08% YoY lower net profits at SAR 17.15 million, compared to SAR 587 million.
