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News

1 August 2024 03:17 PM Alujain Corporation’s profits skyrocket 366% in Q2-24

Riyadh – Mubasher: Alujain Corporation turned profitable at SAR 20.26 million in the first half (H1) of 2024, compared to net losses worth SAR 17.74 million in H1-23. The revenues amounted to SAR 858.96 million in H1-24, an annual growth of 7.51% …

Financial Results

1 August 2024 10:48 AM Marafiq’s profits cross SAR 108m in H1-24; dividends approved

Riyadh – Mubasher: Power and Water Utility Company for Jubail and Yanbu (Marafiq) recorded 59.36% year-on-year (YoY) lower net profits at SAR 108.13 million during the first half (H1) of 2024, compared to SAR 266.11 million. The revenues amounted …

Cash Dividends

1 August 2024 10:29 AM CMA approves Savola Group’s capital raise

Riyadh – Mubasher: The Capital Market Authority (CMA) greenlighted the SAR 6 billion capital hike of Savola Group on 31 July 2024, according to a bourse disclosure. The company submitted the application file, on 28 April, to increase its capital …

Management Decisions

31 July 2024 11:40 AM Retal registers 19.5% higher profits in H1-24; dividends announced

Riyadh – Mubasher: Retal Urban Development Company posted19.46% year-on-year (YoY) higher net profits at SAR 134.45 million in the first half (H1) of 2024, compared to SAR 112.54 million. The revenues amounted to SAR 964.30 million in H1-24, …

Financial Results

31 July 2024 09:59 AM EIC to pay SAR 112.5m cash dividends for H1-24

Riyadh – Mubasher: The board members of Electrical Industries Company (EIC) greenlighted cash dividends valued at SAR 112.50 million for the first half (H1) of 2024, according to a bourse disclosure. The company will disburse a dividend of SAR …

Cash Dividends

30 July 2024 10:50 AM Saudi Ceramics’ net profit drops 90% YoY in H1-24

Riyadh – Mubasher: Saudi Ceramic Company (Saudi Ceramics) logged a 90.10% year-on-year (YoY) plunge in net profit to SAR 4.74 million during the first half (H1) of 2024 from SAR 48 million. Sales edged lower to SAR 621.91 million in H1-24 from SAR …

Financial Results

29 July 2024 11:50 AM Shaker Group’s net profit rises 9% YoY in H1-24

Riyadh – Mubasher: Al Hassan Ghazi Ibrahim Shaker Company (Shaker Group) reported a 9.04% year-on-year (YoY) growth in net profit to SAR 48.69 million from SAR 44.65 million. The company’s revenue rose by 15.96% YoY to SAR 758.38 million in H1-24 …

Financial Results

29 July 2024 09:43 AM Amlak International sees lower profits in H1-24; assets exceed SAR 4.1bn

Riyadh – Mubasher: Amlak International Finance Company recorded a 2.95% year-on-year (YoY) decline in net profit to SAR 16.83 million in the first half (H1) of 2024, compared to SAR 17.35 million. Earnings per share (EPS) amounted to SAR 0.17 as …

Financial Results

25 July 2024 03:59 PM Balady Poultry posts 79% YoY higher profits in H1-24

Riyadh – Mubasher: Balady Poultry Company logged a 78.61% year-on-year (YoY) surge in net profit to SAR 71.93 million during the first half (H1) of 2024 from SAR 40.27 million. Sales leapt by 30.49% YoY to SAR 449.63 million in H1-24 from SAR …

Financial Results

25 July 2024 00:35 PM EIC’s net profits leap 106.5% in H1-24

Riyadh – Mubasher: Electrical Industries Company (EIC) achieved a net profit valued at SAR 175.84 million in the first half (H1) of 2024, higher by 106.53% than SAR 85.14 million in H1-23. Revenues amounted to SAR 1.03 billion in H1-24, up 37.37% …

Financial Results

25 July 2024 00:19 PM Al Qemam pens SAR 9.4m deal with Asir Region Municipality

Riyadh – Mubasher: Al Qemam for Computer Systems Company has signed a SAR 9.44 million agreement with Asir Region Municipality to provide electronic archiving services for paper documents in the Asir Region Municipality. The agreement was awarded …

Companies Investments

24 July 2024 00:53 PM ProMedEx obtains SAR 25m loan from Al Rajhi Bank

Riyadh - Mubasher: Professional Medical Expertise Company (ProMedEx) on 23 July 2024 secured a SAR 25 million credit facilities from Al Rajhi Bank to fund existing projects and business expansion. Guarantees offered for the financing include a …

Banking and Finance

24 July 2024 11:30 AM Aljouf Cement reschedules SAR 154m Islamic facilities with Saudi Awwal Bank

Riyadh – Mubasher: Aljouf Cement Company has signed an agreement with Saudi Awwal Bank (SAB) to reschedule SAR 154.45 million Islamic facilities to support its operations. The company signed the agreement on 24 July 2024 for seven years ending in …

Banking and Finance

24 July 2024 10:00 AM Sure Global Tech awarded SAR 14m project agreement

Riyadh – Mubasher: Sure Global Tech Company was awarded a project contract worth SAR 13.97 million, according to a bourse disclosure. The company received the awarding notification from the Research Development and Innovation Authority on 23 July …

Companies Investments

24 July 2024 08:50 AM Saudi Arabia to host Middle East LPG Expo 2024

Riyadh – Mubasher: Middle East LPG Expo - Saudi Arabia 2024 is set to take place during 10-11 September 2024, according to a press release. LPG Expo, a leading exhibition and conference organiser in the liquefied petroleum gas (LPG) industry, …

Event

23 July 2024 05:52 PM Ladun renews SAR 181.5m facilities with Riyad Bank

Riyadh – Mubasher: The board members of Ladun Investment Company approved an agreement to renew Sharia-compliant facilities totalling SAR 181.59 million from Riyad Bank. The approval was granted on 23 July 2024 for the funding date of 22 July this …

Companies Investments

23 July 2024 05:37 PM Aljouf Cement reschedules facilities with Alinma Bank

Riyadh – Mubasher: Aljouf Cement Company has signed an agreement with Alinma Bank to reschedule Islamic facilities to support the cement manufacturer’s operations. The financing amount and rescheduled part financing value totals SAR 374 million, …

Companies Investments

23 July 2024 05:01 PM Bena Steel Industries’ board proposes SAR 0.9/shr dividends for 2023

Riyadh – Mubasher: Bena Steel Industries Company’s board on 22 July 2024 recommended to the general assembly the distribution of SAR 4.50 million in cash dividends for 2023. Around five million shares are eligible for the proposed dividends, whose …

Cash Dividends

23 July 2024 04:45 PM Edarat Communication inks 2 agreements for cloud, data centre services

Riyadh – Mubasher: Edarat Communication and Information Technology Company has signed two contracts with BPS ARABIA for Information Technology and Digital Centers for Data and Communication for cloud, data centre design, supervision, consulting …

Companies Investments

23 July 2024 10:45 AM First Mills records SAR 123m profits in H1-24; dividends unveiled

Riyadh – Mubasher: First Milling Company (First Mills) witnessed a 13.40% year-on-year (YoY) rise in net profit to SAR 123.22 million during the first half (H1) of 2024, compared to SAR 108.66 million. The revenues stood at SAR 518.79 million in …

Financial Results

23 July 2024 09:58 AM GFH raises stake in GFH Equities to over 76.5%

Mubasher: GFH Financial Group has increased its equity ownership in GFH Equities, previously known as GBCorp, by 12.50% during July 2024. Following the transaction, the cross-listed group holds a majority stake of 76.63%, according to a press …

Mergers and Acquisitions

22 July 2024 05:42 PM MIS obtains SAR 340m funding from SAB

Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) secured a Sharia-compliant facility worth SAR 340.26 million from Saudi Awwal Bank (SAB) on 17 July 2024 and signed the funding agreement on the 22nd. MIS will use the secured amount …

Companies Investments

22 July 2024 05:23 PM Ladun unveils SAR 628m project with Saudi government

Riyadh – Mubasher: Ladun Investment Company announced the signing of a project deal between its subsidiary Built Industrial Company and the Ministry of Municipalities and Housing on 22 July 2024. Under a total deal value of SAR 628.09 million, …

Companies Investments

22 July 2024 03:32 PM Ladun’s subsidiary awarded SAR 120.5m project agreement

Riyadh – Mubasher: Built Industrial Company, a fully-owned subsidiary of Ladun Investment Company was awarded a SAR 120.57 million project contract from the Royal Commission for Jubail and Yanbu (RCJY). The project covers all the necessary work to …

Companies Investments

21 July 2024 09:42 AM Saudi Tadawul Group achieves SAR 365.5m profits in H1-24

Riyadh – Mubasher: Saudi Tadawul Group Holding Company witnessed 86.42% year-on-year (YoY) higher net profits at SAR 365.40 million in the first half (H1) of 2024, compared to SAR 196 million. The revenues hit SAR 741.10 million in H1-24, marking …

Financial Results