Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) National Metal Manufacturing and Casting Co. (Maadaniyah) trimmed net loss after Zakat and tax by 5.1% year-on-year (YoY) to SAR 7.1 million for the first quarter of 2021.
2) Al Abdullatif Industrial Investment Co. narrowed net loss after Zakat and tax to SAR 4.4 million in Q1 2021.
3) Baazeem Trading Co. reported a net profit after Zakat and tax of SAR 9.8 million for Q1 2021, up 10% YoY.
4) Saudi British Bank (SABB) announced that its two affiliates signed a business transfer agreement related to the sale and purchase of certain lines of business.
5) Saudi Paper Manufacturing Co. signed an agreement worth SAR 58 million with Italy-based Toscotec to manufacture and supply a tissue paper rolls production line.
6) Al Kathiri Holding Co. reported net profit after Zakat and tax of SAR 4.2 million in Q1 2021, up 16% YoY.
7) Alkhorayef Water and Power Technologies Co. (AWPT) secured an operation and maintenance contract from Jeddah Municipality for the optimization of North Jeddah Storm Water Networks and Ground Water Level Reduction Networks.
8) Brent crude on Wednesday declined 88 cents to reach $67.83 per barrel. WTI crude also decreased 89 cents to reach $64.60/bbl.
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