Here are a few things you need to know as Saudi stocks start trading on Monday.
1) National Commercial Bank (NCB) reported a net profit of SAR 2.1 billion for Q3 2017, up 8 percent year-on-year (YoY) due to lower gross operating expenses.
2) Halwani Bros said its net profit for the third quarter fell 16 percent YoY to SAR 18.8 million on the back of lower sales in Egypt and higher cost of sales.
3) Sahara Petrochemical Co. said its third-quarter net profit rose 52 percent YoY to SAR 165 million, due to higher profit from Al-Waha Petrochemical Co., Tasnee and Sahara Olefins Co., despite higher losses from Saudi Acrylic Acid Co.
4) Saudi Cement Co. posted a net profit of SAR 87 million for Q3 2017, down 57 percent YoY due to lower sales, higher cost of sales per ton of cement sold, decline in share in net results of associates, and decrease in other income.
5) Bank Aljazira reported a net profit of SAR 228 million for Q3 2017, up 41.6 percent YoY mainly due to increase in operating income.
6) Etihad Etisalat Co. (Mobily) said its net loss in Q3 2017 widened to SAR 174.5 million compared to a loss of SAR 166.3 million in the same period last year, as revenues and gross profit decreased.
7) Middle East Paper Co.’s (MEPCO) net profit for the third quarter jumped to SAR 22.2 million from around SAR 2.3 million a year earlier, on the back of higher sales, higher average selling prices and a decrease in the cost of finance.
8) Saudi Arabian Mining Company (Maaden) signed a contract with Bangladesh’s ministry of agriculture and state-owned Bangladesh Agricultural Development Corporation (BADC) to export diammonium phosphate (DAP) fertilizers in 2018, Maaden said in a statement.
9) Kingdom Holding Co. (KHC) has signed a three-year agreement with Al-Hilal football club and its exclusive marketer, Sela Sports Company, to be the club’s main partner, KHC said.
10) Crude oil prices climbed further on Monday on signs of a tightening market. Brent crude was last up 0.2 percent at $57.89/bbl, while WTI crude rose 0.5 percent to $52.09/bbl.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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