Here are a few things you need to know as Saudi stocks start trading on Thursday.
1) Arabian Cement Co. sustained a net loss of SAR 57 million in H1 2018, versus net profit of SAR 136.2 million in year-earlier period, driven by lower selling prices amid soft demand and severe competition.
2) Abdullah Al Othaim Markets Co. reported a net profit of SAR 141.37 million in H1 2018, up by 7.62 percent year-on-year (YoY), driven by higher sales and lower financing expenses.
3) Saudi Pharmaceutical Industries Medical Appliances Corp. (SPIMACO) reported a net profit of SAR 91.3 million in H1 2018, a fall of 40.5 percent year-on-year (YoY), as the firm incurred zakat expenses at SAR 21 million compared to zero charges in H1 2017.
4) National Gas & Industrialization Co. (GASCO) incurred more than SAR 9 million in expenses in H1 2018, driven by higher cost of labor as well as allowances to compensate the rising cost of living, chief executive Abdul Karim Bin Hamad Al Najidi told CNBC Arabia.
5) Saudi Arabian Monetary Authority (SAMA) will not extend a grace period for insurance service providers that failed to comply with its requirements, Al-Eqtisadiah newspaper reported.
6) Saudi Arabia’s Capital Market Authority (CMA) has approved Saudi Fransi Capital's request to increase the capital of Taleem REIT from SAR 285 million to SAR 510 million, in order to acquire real estate assets.
7) Derayah REIT is expecting to pay 1.82 percent of the initial offering price, or SAR 0.181 per unit, as cash dividend for third quarter 2018, fund manager Derayah Financial said in a statement.
8) AlAhli REIT Fund (1) will pay a 3.25 percent cash dividend for the period ended June 30, 2018, at SAR 0.325 per unit, amounting to SAR 44.69 million, fund manager NCB Capital said in a statement.
9) Saudi Real Estate Company (Al Akaria) has appointed Mamdouh Saud Al Sharhan as the new chief executive officer with immediate effect.
10) Saudi Arabia's gross domestic growth (GDP) growth will strengthen in H2 2018, supported by rising oil output, after hitting a plateau in the second quarter, Capital Economics said in a new report.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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