9 things you need to know on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Wednesday.

1) Saudi Aramco has signed a contract with a consortium compromising Saudi Archirodon and Huta Hegerfeld AG Saudi for dredging, reclamation, and marine structures for the King Salman International Complex for Maritime Industries and Services in Ras Al-Khair.

2) Rabigh Refining and Petrochemical Co.’s (Petro Rabigh) net profit for the second quarter 2017 tripled to SAR 316 million from SAR 101 million in Q2 2016 on higher refinery margin, improved pricing, as well as better yields.

3) Saudi Industrial Investment Group (SIIG) reported a net profit of SAR 70 million for Q2 2017, a 54 percent year-on-year (YoY) decline.

4) National Gypsum Co. turned to a net loss of SAR 2.5 million in Q2 2017, versus a net profit of SAR 2.3 million in the same period of 2016, on lower sales.

5) Saudi Marketing Co.’s (Farm Superstores) net profit in Q2 2017 fell 25 percent YoY to SAR 20.3 million, mainly due to increase in discounts and promotions, lower sales, higher expenses, and a decrease in other revenues.

6) Saudi Real Estate Co. (Al Akaria) saw a net profit of SAR 18.8 million in Q2 2017, a drop by 56 percent YoY on unrealized loss on fair value derivatives and an increase in general and administrative expenses.

Separately, the firm said its board of directors has recommended a 5 percent cash dividend for first half of 2017, at SAR 0.5 per share, amounting to SAR 60 million.

7) Saudi Industrial Export Co.’s second quarter losses widened to SAR 13.2 million, compared with SAR 0.46 million in the same period last year.

8) Arabian Pipes Co. reported a net profit of SAR 3.1 million for Q2 2017, a 72 percent drop compared to same quarter last year.

9) Oil prices declined on Wednesday. Brent crude was last trading lower by 0.4 percent at $51.93/bbl and WTI crude was down 0.3 percent at $49.02/bbl.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com