Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Halwani Bros saw its net profit for H1 2018 drop 23 percent year-on-year (YoY) to SAR 25 million due to higher cost of goods sold and discounts offered in Saudi Arabia and Egypt.
2) Eastern Province Cement Co.'s net profit plunged 59.3 percent YoY H1 2018. The drop was attributed to lower sales volumes and value, amid weak demand and fierce competition.
3) Saudi Arabian Amiantit Co. reported a net loss of SAR 92.4 million for H1 2018, compared to a loss of SAR 60.1 million during the same period last year.
4) Saudi Airlines Catering Co. reported a net profit of SAR 240.5 million in H1 2018, a 4.7 percent decline YoY on lower retail sales and a loss from the associate firm.
Separately, the firm said its board of directors has recommended a 14 percent cash dividend for Q2 2018, at SAR 1.4 per share, amounting to SAR 114.8 million.
5) National Agricultural Development Company's (NADEC) net profit in H1 2018 plunged 52 percent YoY to SAR 14.5 million on lower sales and a drop in dairy and food revenue.
6) Amana Cooperative Insurance Co. reported a net loss of SAR 7.2 million in H1 2018 compared to a loss of SAR 6.4 million during the same period last year.
7) Saudi Arabia Refineries Co. (SARCO) reported net loss of SAR 1.7 million in H1 2018, versus SAR 2 million profits achieved in the year-ago period.
8) Swicorp Co. said Swicorp Wabel REIT will start trading units on the Saudi Stock Exchange (Tadawul) as of today.
9) Middle East Specialized Cables Co.’s (MESC) board of directors has amended its capital cut recommendation to SAR 400 million from SAR 600 million, the company said in a statement.
Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com
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