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News

25 March 2024 02:13 PM BCI’s net profit tumbles 37% YoY in 2023

Riyadh – Mubasher: The net profit of Basic Chemical Industries Company (BCI) plunged 37.53% year-on-year (YoY) to SAR 43.98 million in 2023 from SAR 70.40 million. Revenues grew 9.85% YoY to SAR 741.11 million last year from SAR 674.67 million, …

Financial Results

25 March 2024 00:32 PM Jamjoom Pharma posts 71% YoY higher profit in 2023

Riyadh – Mubasher: Jamjoom Pharmaceuticals Factory Company (Jamjoom Pharma) logged a 70.68% year-on-year (YoY) jump in net profit to SAR 292.40 million in 2023 from SAR 171.31 million. Revenues grew 20.09% YoY to SAR 1.10 billion last year from …

Financial Results

25 March 2024 11:04 AM GFH’s shareholders elect new board, ratify dividends

Mubasher: GFH Financial Group’s annual general meeting (AGM) has elected a new board of directors for the next three years, according to a bourse filing. The new board include Hisham Ahmad Alrayes, Ali Murad Ali, Darwish Abdulla AlKetbi, Ghazi …

Corporate Actions

24 March 2024 02:52 PM GFH names Alzayani as Chairman of London-based Roebuck

Mubasher: GFH Financial Group has appointed Zayed Alzayani as board Chairman of its subsidiary Roebuck, a London-headquartered Pan-European real estate logistics investor and asset manager. Alzayani has four decades of experience spanning senior …

Macroeconomics

24 March 2024 02:22 PM Sumou Real Estate mulls 33% capital hike via bonus shares

Riyadh – Mubasher: The board members of Sumou Real Estate Company proposed a capital hike by transferring an amount of SAR 125 million from the retained earnings account. Under the board’s recommendation, which was decided on 21 March 2024, the …

Companies Investments

24 March 2024 01:12 PM Saudi Ceramics turns to loss in 2023; capital increase proposed

Riyadh – Mubasher: Saudi Ceramic Company (Saudi Ceramics) swung to a loss in 2023, recording a net loss of SAR 210.35 million, against a net profit of SAR 173.92 million a year earlier. Revenues shrank 11.45% YoY to SAR 1.31 billion last year from …

Financial Results

21 March 2024 02:10 PM Waja pens SAR 49.5m deal with Saudi government

Riyadh - Mubasher: Waja Company signed an agreement with the Saudi Finance Ministry at an estimated value of SAR 49.45 million on 20 March 2024. The deal covers the technical framework subscription project for the supply and installation of …

Companies Investments

21 March 2024 02:09 PM Sinad Holding incurs SAR 133m losses in 2023

Riyadh – Mubasher: Sinad Holding Company swung to losses in 2023, recording to a net loss of SAR 132.60 million in 2023, compared to a net profit of SAR 10.10 million a year earlier. Revenues declined by 8.02% YoY to SAR 1.61 billion last year …

Financial Results

21 March 2024 00:09 PM Alujain Corporation turns to losses in 2023

Riyadh – Mubasher: Alujain Corporation shifted to a net loss of SAR 82.25 million in 2023, compared to a net profit of SAR 64.54 million a year earlier. Revenues dropped 26.92% year-on-year (YoY) to SAR 1.39 billion last year from SAR 1.91 …

Financial Results

20 March 2024 04:55 PM Eastern Province Cement secures SAR 1bn loan from Banque Saudi Fransi

Riyadh – Mubasher: Eastern Province Cement Company obtained credit facilities at an amount of SAR 1 billion from Banque Saudi Fransi on 20 March 2024. The loan will be used for establishing a new production line in the company’s plant site with a …

Companies Investments

19 March 2024 03:24 PM Fitness Time logs 40% YoY higher consolidated profit in 2023; dividends approved

Riyadh – Mubasher: Leejam Sports Company (Fitness Time) posted a 39.60% year-on-year (YoY) surge in consolidated net profit to SAR 356 million in 2023 from SAR 255 million. Revenues grew 24.29% YoY to SAR 1.32 billion last year from SAR 1.06 …

Cash Dividends

19 March 2024 11:01 AM Al Hammadi Holding records 18% YoY higher net profit in 2023; dividends ratified

Riyadh – Mubasher: Al Hammadi Holding logged a 17.87% year-on-year (YoY) jump in net profit to SAR 303.33 million in 2023 from SAR 257.34 million. Revenues grew 4.84% YoY to SAR 1.17 billion last year from SAR 1.12 billion, according to the annual …

Financial Results

18 March 2024 03:27 PM EFG Hermes completes advisory on Cenomi Retail’s sale deal

Mubasher: EFG Hermes, an EFG Holding Company concluded advisory on a merger and acquisition (M&A) deal for Cenomi Retail, according to a press release. The retail giant plans to sell a select portfolio of brands to Abdullah Al Othaim Fashion …

Mergers and Acquisitions

18 March 2024 02:01 PM Ooredoo, e& team up to evolve submarine network in Middle East

Abu Dhabi – Mubasher: e& and National Mobile Telecommunications Company (Ooredoo) partnered to deploy the subsea latest technology enabling the Gulf Gateway Cable (GGC1) system, according to a press release. The two entities will join forces to …

Global Economy

18 March 2024 00:07 PM Arabian Drilling’s net profit rises 8% YoY in 2023; dividends recommended

Riyadh – Mubasher: Arabian Drilling posted an 8.42% year-on-year (YoY) increase in net profit to SAR 605 million in 2023 from SAR 558 million. The company’s revenues soared 28.59% YoY to SAR 3.47 billion last year from SAR 2.70 billion, according …

Financial Results

17 March 2024 04:22 PM Chemanol’s losses hit SAR 178m in 2023

Riyadh – Mubasher: Methanol Chemicals Company (Chemanol) shifted to net losses amounting to SAR 177.80 million in 2023, compared to net profits valued at SAR 206.43 million in 2022. Chemanol witnessed 32.40% year-on-year (YoY) lower revenues at …

Financial Results

17 March 2024 01:06 PM First Mills launches food products company

Riyadh – Mubasher: First Milling Company (First Mills) has established a new limited liability company to support its future business expansion and fulfil strategic objectives with a capital of SAR 100,000. The new firm will be named First Food …

Companies Investments

17 March 2024 00:50 PM Saudi Ceramic extends preliminary agreement with Turkish company

Riyadh – Mubasher: Saudi Ceramic Company has extended the term of a preliminary non-binding agreement with Eczacıbaşı Yapı Gereçleri A.Ş (EYAP), a subsidiary of the Turkish Eczacıbaşı Group, until the end of 2024. Throughout the year, the two …

Companies Investments

17 March 2024 00:29 PM Alujain Corporation inks MoU for manufacturing complex partnership

Riyadh – Mubasher: Alujain Corporation has signed a memorandum of understanding with Samvardhana Motherson International Limited to partner in a manufacturing complex. The industrial complex manufactures specialised engineering and plastic …

Companies Investments

12 March 2024 05:00 PM Saudi Lime obtains SAR 140m loan from ANB

Riyadh - Mubasher: Saudi Lime Industries Company renewed its credit facilities agreement with the Arab National Bank (ANB) at a value of SAR 140 million on 12 March 2024. The Sharia-compliant deal holds a tenor of seven years and is secured by a …

Companies Investments

12 March 2024 01:09 PM CMA approves Nomu listing of Al Hokail, ANB’s capital raise

Riyadh – Mubasher: The Capital Market Authority (CMA) passed the request of Al Hokail Academy Specialized Digital Polyclinics Company to trade its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul). The Saudi firm intends to …

Trading Activities

12 March 2024 01:00 PM Cenomi Centers concludes $100m sukuk private placement

Riyadh – Mubasher: Arabian Centres Company (Cenomi Centers) has completed a private placement issuance of additional sukuk worth $100 million. The additional issuance will be a part of the $500 million sukuk issued on 6 March 2024 and due 2029, …

Sukuk and Islamic Finance

12 March 2024 11:03 AM EIC’s board nods to SAR 84m dividends for H2-23

Riyadh – Mubasher: Electrical Industries Company’s (EIC) board of directors approved the distribution of SAR 84.37 million, or SAR 0.075 per share, in cash dividends for the second half (H2) of 2023. The distribution date is 24 April 2024 and the …

Corporate Actions

11 March 2024 04:56 PM EIC’s net profits exceed SAR 201m in 2023

Riyadh – Mubasher: Electrical Industries Company (EIC) achieved net profits amounting to SAR 201.03 million in 2023, higher by 113.48% year-on-year (YoY) than SAR 94.17 million. The company generated revenues valued at SAR 1.55 billion as of 31 …

Financial Results

11 March 2024 11:52 AM First Mills’ net profit edges higher 1% YoY in 2023; dividends date released

Riyadh – Mubasher: The net profit of First Milling Company (First Mills) inched higher by 1.24% year-on-year (YoY) to SAR 220.20 million in 2023 from SAR 217.50 million. Revenues grew 5.54% YoY to SAR 964.30 million last year from SAR 913.60 …

Financial Results