Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Almarai Co.’s consolidated net profit after Zakat and tax rose 9% year-on-year (YoY) to SAR 420.5 million in Q1 2022.
2) Advanced Petrochemical Co. reported an estimated net profit after Zakat and tax of SAR 164 million for Q1 2022, down 4% YoY.
3) Fawaz Abdulaziz Alhokair Co.’s board of directors accepted the resignation of CEO Marwan Moukarzel, effective from April 30, and approved the appointment of Mohamad Mourad as interim CEO.
4) Wafrah for Industry and Development Co.’s board of directors appointed Khaled Zaid Alshammari as CEO, effective April 10.
5) Shareholders of Arabian Contracting Services Co. (Al Arabia) will vote on the board's recommendation on an 18.6%% cash dividend, or SAR 1.86 per share, for 2021, during the extraordinary general meeting (EGM) that will be held on May 10.
6) Anaam International Holding Group announced that its accumulated losses reached SAR 10.12 million as of Dec. 31, 2021, accounting for 9.6% of capital.
7) Walaa Cooperative Insurance Co. said the value of the insurance agreement signed with Saudi Arabian Oil Co. (Saudi Aramco) exceeds 15% of Walaa’s gross written premiums (GWP) for 2021.
8) Brent crude fell 2.20% to $100.52 per barrel. WTI crude lost 2.36% to reach $95.94/bbl.
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