Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Almarai Company reported a net profit after zakat and tax of SAR 1.81 billion for the fiscal year (FY) of 2019, a 9.95% year-on-year (YoY) decrease.
2) United Electronics Company (eXtra) reported a net profit of SAR 205.8 million for FY19, up by 27.67% YoY due to higher revenue, and a 15.5% increase in gross profit.
3) Etihad Atheeb Telecommunication Co. (GO) said its accumulated losses as of Jan.16, 2020 reached SAR 180.98 million, representing 51.63% of capital, amounting to SAR 350.53 million.
4) Saudi Marketing Co. (Farm Superstores) renewed its SAR 200 million Shariah-compliant facility agreement with Al Rajhi Bank.
5) National Medical Care Company (Care) was awarded a contract by the Ministry of National Guard to provide admission services (upon request) for the ministry’s patients.
6) Saudi Enaya Cooperative Insurance Co.(Saudi Enaya) recommended a 50% capital reduction to SAR 150 million from SAR 300 million to offset accumulated losses.
7) Saudi Industrial Export Co. (SIECO) inked an exclusive commercial representation agreement with PrimeGate for communications and information technology (IT).
8) Brent crude on Monday gained 77 cents to reach $65.62 per barrel whereas WTI Crude increased 60 cents to reach $59.14/bbl.
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