Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) Saudi telecom provider stc reported a net profit after Zakat and tax of SAR 3.035 billion for Q1 2022, up 3% from SAR 2.952 billion in the year-ago period.
2) Alandalus Property Co. posted a net profit after Zakat and tax of SAR 20 million in Q1 2022, a rise of 4% from SAR 19 million a year earlier.
3) Al-Baha Investment and Development Co. widened net loss after Zakat and tax to SAR 4.1 million in Q1 2022, from SAR 1 million a year earlier.
4) Bawan Co. reported net profit after Zakat and tax of SAR 50.3 million for Q1 2022, an increase of 21% compared to SAR 41.7 million in the same period last year.
5) Saudi Steel Pipe Co. turned to a net profit after Zakat and tax of SAR 14.5 million in Q1 2022 against a net loss of SAR 8.5 million in the year-earlier period.
6) Bupa Arabia for Cooperative Insurance reported a net profit of SAR 94.1 million for Q1 2022, a drop of 33% from SAR 139.9 million a year earlier.
7) Al Moammar Information Systems Co.’s board approved awarding SAR 800 million worth of contracts for works related to the construction of six data centers.
8) stc's board of directors recommended a 10% cash dividend for Q1 2022, at SAR 1 per share, amounting to SAR 2 billion.
9) The Saudi Investment Bank (SAIB) is planning to redeem its SAR 285 million additional Tier 1 capital sukuk on the first call date, June 6, 2022, at face value.
10) Brent crude rose 1.34% to reach $112.39 per barrel on Friday. WTI crude gained 1.39% to reach $109.77/bbl.
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