Doha, Qatar: Gulf International Services (“GIS” or “the Group”), yesterday reported a net profit of QR76m for the three-month period ended 31 March 2026, with an earnings per share of QR0.041.
Within the drilling segment, GDI’s operational performance reflects varying dynamics between its offshore and onshore segments. Offshore activities have been temporarily scaled back, with several rigs suspended at the direction of clients. In contrast, onshore drilling operations have remained stable, with GDI continuing to deliver services in alignment with client requirements. The segment remains focused on optimizing utilization and maintaining readiness to support clients as market conditions evolve.
In the aviation segment, GHC continues to navigate a challenging operating landscape and a reduction in flying activities. GHC remains committed to prioritizing cost optimization, asset readiness, and operational stability to ensure the segment remains well-positioned for when market conditions improve.
In the insurance segment, Al-Koot has maintained solid operational continuity. The resilience of the segment’s operating model has ensured steady performance during the period, reinforcing Al-Koot’s position as a consistent contributor to the Group.
For the three-month period ending 31 March 2026, the Group reported a decline in revenue, primarily attributable to lower contributions from the drilling and aviation segments. The drilling segment experienced reduced revenue due to lower asset utilization, as several rigs remained off-contract during the period, affecting performance across both offshore and onshore operations with financial performance further influenced by several offshore rigs suspended.
