Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) Mobile Telecommunication Company Saudi Arabia (Zain Saudi) reported a net profit of SAR 129 million for the first quarter of 2019.
2) Filling & Packing Materials MFG. Co. (FIPCO) swung to a net loss after zakat and tax of SAR 2.5 million for Q1 2019.
3) Dur Hospitality Co.’s board of directors on Wednesday has accepted the resignation of Badr bin Hamoud al Badr, the company’s CEO.
4) Riyad REIT Fund expects its real estate portfolio to grow by 30 percent this year, driven by planned acquisitions and the recently-signed SAR 600 million credit facility.
5) Bank Albilad’s net profit of SAR 316.5 million for Q1 2019 came in-line with Aljazira Capital’s estimates, the research firm said in an earnings report.
6) United Electronics Co. (eXtra) reported an impressive set of results in Q1 2019, with net profit rising 57 percent year-on-year (YoY) to SAR 34 million, Al Rajhi Capital said in an earnings note.
7) Aldrees Petroleum & Transport Services Co. reported a net profit after zakat and tax of SAR 29.9 million for the first quarter of 2019, up 35.3 percent year-on-year.
8) Brent crude oil prices edged marginally lower on Thursday morning, with Brent crude trading down 0.01 percent at $71.61/bbl while WTI crude rose 0.05 percent to $63.79/bbl.
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