DOHA: Gulf International Services (GIS), yesterday reported a net profit of QR145m for the nine-month period ended 30 September 2026, with an earnings per share of QR0.078.
The Drilling segment’s performance had normalized by early 3Q-2026, with all previously temporarily suspended offshore rigs returning to operation, while onshore activities remained stable. This supported improved performance during the quarter.
The segment continues to focus on maximizing asset utilization, maintaining
operational readiness, and effectively supporting customer requirements.
During the quarter, three jack- up rigs secured contract extensions with an existing client for an additional period up to four years. These extensions reflect the client’s continued confidence in the Company’s operational performance and increase stable utilization levels over the medium term.
A leased offshore jack-up rig from an international shipyard went out of contract in the current quarter.
Performance in the aviation segment improved during 3Q 2026, driven by the return to service of most aircraft, which supported recovery of domestic flying activity following a subdued first half of the year. The segment remains focused on cost optimization, fleet readiness, and operational resilience to effectively support client requirements.
Al Koot Insurance continued to deliver solid operational performance during the period, supported by disciplined execution of its business and operational strategies. Its resilient business model enabled the segment to maintain stable results and remain a consistent contributor to the Group.
The catering segment was impacted by higher food and operating costs during the period, reflecting continued logistical constraints and increased input costs. Consequently, Amwaj recorded a modest decline in net profit.
For the nine-month period ending 30 September 2026, the Group reported lower revenue compared to the corresponding period of the previous year, primarily reflecting reduced contributions from the drilling and aviation segments.
The drilling segment was impacted by the temporary suspension of several offshore rigs in 1H-26 and some onshore rigs remaining off contract during the current period.
GIS will host an Investor Relations (IR) earnings call with investors to present its latest financial results on, 5 November 2026, at 1:30pm Doha time.
