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Petro-king Oilfield Services Ltd. ( (HK:2178) ) has issued an announcement.
Petro-king Oilfield Services Ltd. reported a decrease in revenue to approximately HK$292.4 million for the year ended December 31, 2024, down from HK$314.8 million in 2023. The company’s loss reduced significantly to HK$14.7 million from HK$74.7 million in the previous year. The China market saw a slight revenue increase due to higher sales of well completion products and drilling services, while the overseas market experienced a significant decline due to the completion of service contracts in the Middle East. This resulted in an overall revenue drop of 7.1%, highlighting challenges in maintaining overseas market engagements.
More about Petro-king Oilfield Services Ltd.
Petro-king Oilfield Services Ltd. is a company incorporated in the British Virgin Islands, specializing in oilfield and gas field technology services. The company provides services across various stages of oilfield and gas field life cycles, including drilling, well completion, and production enhancement, as well as trading related products.
YTD Price Performance: -6.67%
Average Trading Volume: 2,561,417
Technical Sentiment Signal: Buy
Current Market Cap: HK$94.97M
Learn more about 2178 stock on TipRanks’ Stock Analysis page.