Here are a few things you need to know as Saudi stocks start trading on Monday.
1) Almarai Company (Almarai), one of the largest dairy companies in the Gulf region, reported a net profit of SAR 2 billion for fiscal year 2018, down by 8 percent year-on-year (YoY) due to lower revenues, higher other expenses and higher charges of finance.
2) Aldrees Petroleum and Transport Services Co. plans to open 64 new fuel stations in 2019, its chief executive officer, Abdulelah Bin Saad Al-Drees told Argaam.
3) Saudi Advanced Industries Co. (SAIC) on Jan. 17 completed the procedures required for liquidating Tasnee and SAIC Polyol and Derivatives Co., as operations had been halted in the joint venture upon mutual agreement.
4) Abdullah A. M. Al-Khodari Sons Co.’s board of directors recommended a 36 percent capital reduction to SAR 355.8 million from SAR 557.81 million to offset accumulated losses.
5) Shares of Saudi Telecom Co. (STC), Saudi Investment Bank (SAIB), Arab National Bank (ANB) and Saudi Cable Co. hit their highest level in 52 weeks on Sunday, data compiled by Argaam showed.
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