Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Saudi British Bank (SABB) reported a net profit of SAR 851 million for the first half of 2019, down 52.9 percent year-on-year (YoY) due to higher total operating expenses.
2) Al Sagr Cooperative Insurance Co. reported a net loss before zakat of SAR 6.7 million for H1 2019 compared to a net profit of SAR 10.7 million a year earlier.
3) Al Gassim Investment Holding Co. (QACO) reported a net profit after zakat and tax of SAR 10.8 million for the first half of 2019, over an eightfold increase year-on-year (YoY) from around 1.3 million a year earlier.
4) Yanbu Cement Co.’s board of directors recommended paying cash dividend at 7.5 percent, or SAR 0.75 a share, totaling around SAR 118.13 million for H1 2019.
5) Jarir Marketing Co.’s board of directors recommended paying cash dividend at 14 percent, or SAR 1.40 a share, totaling SAR 168 million for Q2 2019.
6) Halwani Bros Co.’s shareholders approved on Aug. 5 a 10 percent capital hike to SAR 314.29 million from SAR 285.71 million through bonus shares.
7) Al Hassan Ghazi Ibrahim Shaker Co. narrowed H1 2019 net losses after zakat and tax by 31.3 percent year-on-year (YoY) to SAR 38.7 million on higher revenue and profit share from associates.
8) Buruj Cooperative Insurance Co. reported a net profit of SAR 19.10 million for H1 2019, down 50.95 percent year-on-year (YoY) on lower underwriting surplus and decreased net earned premiums.
9) Saudi Airlines Catering Co. reported a net profit after zakat and tax of SAR 220.6 million in the first half of 2019, registering a decline of 8.2 percent drop year-on-year (YoY) due to adoption of IFRS 16.
10) Brent crude on Wednesday fell 8 cents to reach $58.86/bbl, while WTI crude also decreased 3 cents to reach $53.60/bbl.
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