The combined net profit of Saudi brokerage firms nearly doubled in Q3 2017, leaping 97 percent year-on-year (YoY) to SAR 346.7 million, a report by the Capital Market Authority (CMA) showed.
The profit hike came as revenue increased 12 percent YoY to SAR 1.1 billion in the same period.
Data showed that the number of authorized brokerage firms operating in the Kingdom decreased to 82 from 83 in Q3 2016.
|
Income Statement (SAR mln) |
|||
|
Period |
Q3 2016 |
Q3 2017 |
Variation |
|
Revenue |
1,023.9 |
1,144.0 |
+12% |
|
Opex |
821.4 |
798.9 |
(3%) |
|
Operating income |
201.5 |
345.2 |
+71% |
|
Other income |
0.1 |
15.6 |
-- |
|
Profit/loss of minority interest |
(18.7) |
(1.3) |
(93%) |
|
Net profit |
176.2 |
346.7 |
+97% |
Combined assets decreased 2 percent YoY to SAR 28.2 billion.
Shareholders’ equity edged up 0.3 percent YoY to SAR 21.7 billion in Q3.
|
Balance Sheet (SAR mln) |
|||
|
Period |
Q3 2016 |
Q3 2017 |
Variation |
|
Assets |
28,763.8 |
28,222.9 |
(2%) |
|
Liabilities |
6,833.0 |
6,461.4 |
(5%) |
|
Capital |
16,071.2 |
15,610.7 |
(3%) |
|
Shareholders’ equity |
21,614.6 |
21,688.9 |
-- |
Brokerage firms completed around SAR 351.8 billion worth of transactions during the third quarter, up 2 percent YoY.
Their transactions accounted for 97.3 percent of total trading activity on the Saudi market.
|
Trading Value by Region (SAR mln) |
||
|
Market |
Trading Value |
Percent to total trading value |
|
Local Market |
342,138 |
97.27% |
|
GCC |
635 |
0.18% |
|
Arab countries |
39 |
0.01% |
|
Asia |
5 |
0.00% |
|
US |
8,497 |
2.42% |
|
Europe |
51 |
0.01% |
|
Others |
392 |
0.11% |
|
Total |
351,757 |
100.00% |
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