Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Southern Province Cement Co. reported a net profit after Zakat and tax of SAR 463 million for the fiscal year 2019, a more than two-fold increase year-on-year (YoY).
2) Leejam Sports (Fitness Time) reported net profit after Zakat and tax of SAR 205.92 million for FY2019, a 14.34% YoY increase.
3) Bupa Arabia for Cooperative Insurance Co. received the approval of the Saudi Arabian Monetary Authority (SAMA) to renew its insurance license.
4) Al Ahsa Development Co. reported a net loss of SAR 1.3 million for FY2019 as compared to a net profit of SAR 7.22 million for FY2018.
5) Ash-Sharqiyah Development Co. refuted the board of directors’ recommendation to increase capital from SAR 75 million to SAR 120 million to finance the acquisition of 2 realty assets in Riyadh.
6) Al Maather REIT fund will pay the Fund Zakat on behalf of the unit owners for 2019 as per the board of directors’ recommendation.
7) Halwani Bros. reported a net profit after Zakat and tax of SAR 2.4 million for FY2019, a plunge of 94% YoY.
8) Jadwa Investment, fund manager of Jadwa REIT Al Haramain Fund received a notice to suspend the lease contract for Tharawat Al Andalusia Hotel.
9) Saudi Advanced Industries Co. (SAIC) reported a net profit after Zakat and tax of SAR 28.52 million for FY2019, down 23% YoY.
10) Brent crude on Tuesday declined $2.48 to reach $36.84 per barrel. WTI Crude also decreased $2.02 to reach $33.15/bbl.
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