Petro-king Oilfield’s Strong Revenue Growth Despite Loss

Petro-king Oilfield Services Ltd. (HK:2178) has released an update.

Petro-king Oilfield Services Ltd. reports a significant revenue increase to HK$165.9 million for the first half of 2024, up 60.8% from the previous year, primarily due to strong demand for production enhancement services in China’s shale gas fields. Despite the revenue surge, the company experienced a marginal net loss of HK$0.4 million, a notable improvement from the HK$18.0 million loss in the same period last year. No interim dividend will be paid, consistent with the previous year’s policy.

For further insights into HK:2178 stock, check out TipRanks’ Stock Analysis page.