Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) Saudi Research and Media Group (SRMG) reported a net profit after Zakat and tax of SAR 91.5 million for Q1 2021, a rise of 41% year-on-year (YoY).
2) Aljazira Takaful Taawuni Co.’s (Aljazira Takaful) net profit increased 25% to SAR 16.3 million in Q1 2021.
3) Taiba Investments Co. turned to a net loss after Zakat and tax of SAR 1.9 million for Q1 2021.
4) Saudi Paper Manufacturing Co., through its subsidiary Saudi Paper Converting Co., signed a SAR 9.2 million agreement with Taiwan’s Ocean Associate Co. Ltd. to buy three new machines to boost the converting production capacity, develop tissue paper production lines (the end product), reduce product cost and improve its quality.
5) Development Works Food Co. signed a memorandum of understanding (MoU) with Sea Restaurants Co. to acquire 100% of its shares, in exchange for the issuance of shares in Food Development Business Co.
6) The Capital Market Authority (CMA) approved Al Kathiri Holding Co.’s request on increasing its capital from SAR 90.42 million to SAR 113.02 million.
7) National Medical Care Co. (Care) reported a net profit after Zakat and tax of SAR 35.7 million for Q1 2021, an 8% increase YoY.
8) Al-Omran Industrial Trading Co. reported a net profit after Zakat and tax of SAR 2.8 million for Q1 2021.
9) Brent crude on Thursday gained 3 cents to reach $66.69 per barrel. WTI crude also increased 8 cents to reach $63.44/bbl.
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