Sector News

Riyadh – Mubasher: Alkhaleej Training and Education Company has signed an agreement to acquire 80% of  Adhwa’a Al Hidaya Private Schools Company for Boys and Girls for SAR 480 million. Under the agreement, Alkhaleej Training will acquire 1.60 …

Riyadh – Mubasher: The net loss of Alkhaleej Training and Education Company jumped 174.42% year-on-year (YoY) to SAR 42.01 million in 2023 from SAR 15.31 million. Revenues grew 12.13% YoY to SAR 983.64 million last year from SAR 877.21 million, …

Riyadh – Mubasher: Seera Group Holding turned to profitability in 2023, registering a net profit of SAR 265 million, against a net loss of SAR 46 million a year earlier. Revenues surged 55.68% year-on-year (YoY) to SAR 3.29 billion last year from …

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 …

Riyadh – Mubasher: Seera Group Holding has completed the sale of its stake of around 1.24 million shares in Uber for SAR 380 million. The transaction has yielded SAR 164.60 million in additional gains for the group in the period after September …

Riyadh - Mubasher: The National Company for Learning and Education (NCLE) appointed Khaled bin Mohammed Al Khudair as the Chairman of the board for three years. NCLE also named Ibrahim bin Abdelrahman Al Derei as the Vice Chairman, according to a …

Riyadh – Mubasher: The board members of Shatirah House Restaurant Company (Burgerizzr) recommended, on 25 February, cash dividends valued at SAR 5 million for 2023. Burgerizzr will pay out a dividend of SAR 0.14 per share for 35 million eligible …

Riyadh – Mubasher: Sami Abdulmohsen Al Hokair resigned from his position as the CEO of Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group). Al Hokair resigned from his position on 25 February 2024, yet the resignation will be …

Riyadh – Mubasher: Shatirah House Restaurant Company (Burgerizzr) has achieved a 355.52% year-on-year (YoY) surge in net profit during 2023, recording SAR 12.28 million when compared to SAR 2.69 million. The company’s revenues grew by 12.22% to …

Riyadh – Mubasher: Herfy Food Services Company registered SAR 8.38 million in net profit during 2023, higher by 136.49% than SAR 3.54 million in 2022. The revenues amounted to SAR 1.17 billion last year, lower by 5.63% than SAR 1.24 billion as of …

Riyadh – Mubasher: The new national full service carrier of Saudi Arabia, Riyadh Air, has teamed up with Almosafer, a subsidiary of the listed Seera Group Holding, to fast-track the growth of an internationally competitive tourism sector in the …

Riyadh – Mubasher: Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) penned an agreement valued at nearly SAR 760 million, according to a bourse filing. The listed firm inked the contract with Alpha Facilities Contracting …

Riyadh – Mubasher: Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) and Newrest Company signed a memorandum of understanding (MoU) to establish a new company in Saudi Arabia. The joint venture (JV) will operate the inflight …

Riyadh - Mubasher: The net profits of the National Company for Learning and Education (NCLE) increased by 20.04% to SAR 31.05 million in the first quarter (Q1) of fiscal year (FY) 2023/2024 from SAR 25.87 million in the same period a year ago. …

Riyadh – Mubasher: Development Works Food Company announced the board’s proposal to cut its capital by SAR 90 million through a rights issue. Through the capital reduction, the listed firm plans to diversify and expand its activities and other …

Riyadh – Mubasher: Leejam Sports Company (Fitness Time) inked a Sharia-compliant credit facilities agreement valued at SAR 150 million with Emirates NBD on 21 December 2023. The facilities include a short-term loan to finance the company’s working …

Riyadh - Mubasher: The net profits after Zakat and tax of the National Company for Learning and Education (NCLE) soared by 43.26% year-on-year (YoY) to SAR 101.78 million in the fiscal year (FY) that ended on 31 August 2023, versus SAR 71.04 …

Riyadh – Mubasher: Saudi Arabia’s Seera Group Holding denied media reports published on 14 November 2023 and claimed that it was seeking to invest EGP 5.50 billion in a hotel project in Egypt, according to a bourse filing. The company said the …

Riyadh – Mubasher: The Capital Market Authority (CMA) recently approved Taiba Investments Company’s request to increase its capital from SAR 1.60 billion to SAR 2.60 billion to acquire Dur Hospitality Company through a securities exchange offer. …

Riyadh – Mubasher: Leejam Sports Company (Fitness Time) has signed a non-binding memorandum of understanding (MoU) with the Saudi Ministry of Municipal and Rural Affairs and Housing to endorse the quality of life (QOL) for the population in the …

Riyadh – Mubasher: Development Works Food Company turned to net losses after Zakat and tax valued at SAR 1.83 million in the first nine months (9M) of 2023, against net profits of SAR 1.50 million in 9M-22. Revenues stood at SAR 70.73 million in …

Riyadh – Mubasher:  The net losses after Zakat and tax of Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) shrank by 60.57% to SAR 22.25 million in the first nine months (9M) of 2023, versus SAR 56.43 million in 9M-22. …

Riyadh – Mubasher: Alkhaleej Training and Education Company turned profitable at SAR 24.99 million in the first nine months (9M) of 2023, compared to net losses of SAR 6.60 million in 9M-22. Revenues increased by 7.60% year-on-year (YoY) to SAR …