Sector News

The extension of the acquisition MoU has no financial impact.
15 May 12:07 PM Shams extends acquisition MoU for 60 days
Riyadh – Mubasher: Tourism Enterprise Company (Shams) on Wednesday announced that it has extended a memorandum of understanding (MoU) to acquire of Saud Al-Madaj Group’s stake in three firms. Shams has extended the deal for an extra 60 days, the …
The hospitality company will pay SAR 25 million in dividends
13 May 01:47 PM Dur Hospitality nods SAR 0.25/shr dividends for H2-18
Riyadh – Mubasher: The ordinary general assembly of Dur Hospitality Company approved distributing cash dividends worth SAR 0.25 per share to the shareholders for the second half of 2018 during a meeting held on Sunday, 12 May. The hospitality …
Al Otaibi replaces Bader Al-Bader
13 May 01:19 PM Dur Hospitality names Sultan Al Otaibi as new CEO
Riyadh – Mubasher: Dur Hospitality Company on Monday revealed that the company’s board has approved the appointment of Sultan Al Otaibi as the new CEO. The decision will become effective starting from 1 July, the company said in a statement to the …
Leejam's board appointed Ali Hamad Alsagri as new chairman
13 May 12:53 PM Leejam Sports names new chairman, MD
Riyadh – Mubasher: The board of directors of Leejam Sports Company (Fitness Time) appointed Ali Hamad Alsagri as the non-executive chairman of the company during a meeting held on Sunday, 12 May. It also appointed Hamad Ali Al-Sagri as the …
Dividends will be distributed on Wednesday, 12 June
13 May 12:40 PM Leejam Sports to pay SAR 0.4/shr dividends for Q1
Riyadh – Mubasher: Leejam Sports Company’s (Fitness Time) board approved distributing cash dividends to the shareholders worth SAR 0.40 per share, representing 4.02% of the share’s nominal value, for the first quarter of 2019 during its meeting …
Net losses after zakat and tax amounted to SAR 32.06 million in Q1-19
7 May 11:18 AM Al Hokair incurs SAR 32m losses in Q1
Riyadh – Mubasher: Abdulmohsen Alhokair Group for Tourism and Development (Al Hokair) posted a 326.3% year-on-year increase in its losses for the first quarter of 2019. Net losses after zakat and tax amounted to SAR 32.06 million in Q1-19, against …
Makarim Al Maarifa owns assets worth SAR 55 million
5 May 01:49 PM KEC acquires Dur’s stake in Makarim Al Maarifa for SAR 27m
Riyadh – Mubasher: Knowledge Economic City (KEC) on Sunday announced signing an agreement with Dur Hospitality Company to acquire all the shares of Makarim Al Maarifa for Hospitality Co., equally owned by both companies. Under the deal, KEC will …
The Saudi firm will provide marketing services to NHC
2 May 05:41 PM Al Khaleej Training wins SAR 19m marketing services contract
Riyadh – Mubasher: Al Khaleej Training and Education Company has won a marketing services contract from the National Housing Company (NHC). Under the contract, the Saudi firm will provide marketing and sales services to NHC’s housing programme, …
Herfy Food’s revenues rose by 9.5% to SAR 313 million
1 May 01:36 PM Al Rajhi Capital raises Herfy Food’s PT to SAR 67/shr
Riyadh – Mubasher: Al Rajhi Capital has upgraded the price target (PT) for Herfy Food Services’ stock to SAR 67 from SAR 56 with ‘overweight’ recommendation. The Saudi food provider’s anticipated dividend yield of 4% for the fiscal year 2019 is …
The food provider’s profits grew 9.47% in Q4-18
1 May 12:34 PM Herfy Food to distribute SAR 1.1/shr dividends on 13 May
Riyadh – Mubasher: Herfy Food Services Co on Wednesday announced that the company’s shareholders had approved distributing a cash dividend of SAR 1.1 per share for the second half of 2018 during an ordinary general meeting (OGM) held the previous …
Herfy Food Services reported a 0.7% growth in profits during Q1-19
29 April 04:53 PM Herfy Food logs SAR 48m profits in Q1
Riyadh – Mubasher: Herfy Food Services Co registered a slight rise of 0.7% in profits to SAR 48.06 million in the first quarter of 2019 from SAR 47.75 million during Q1-18, according to a bourse filing on Monday. The food provider attributed the …
The travel group’s capital will be raised by 43%
15 April 05:24 PM Saudi Al Tayyar Travel to rebrand as Seera Holding
Riyadh – Mubasher: Al Tayyar Travel Group Holding Co on Monday announced that its shareholders had approved changing the company’s name to Seera Holding Group during an extraordinary general meeting (EGM) held the previous day, according to a …
The travel group’s capital will be increased to SAR 3 billion
15 April 10:28 AM Al Tayyar Travel’s EGM nods to 43% capital raise
Riyadh – Mubasher: Al Tayyar Travel Group Holding Co on Monday announced that its shareholders had approved raising the company’s capital by 43% through a two-for-five bonus share issue during an extraordinary general meeting (EGM) held the …
DWR will increase its capital to SAR 25 million
10 April 04:48 PM DWF’s board proposes 100% capital hike
Riyadh – Mubasher: Development Works Food Company’s (DWF) board of directors has recommended a capital increase of 100% by issuing bonus shares. The company will increase its capital to SAR 25 million from SAR 12.5 million, subject to the approval …
Al Tayyar Travel owned 14.7% stake in Careem
3 April 12:23 PM Al Tayyar Travel's Careem stake carries zero book value in FY18
Riyadh – Mubasher: Al Tayyar Travel Group Holding Co on Wednesday announced that the book value of its 14.7% stake in Careem is zero in its financial results for the fiscal year ended 31 December 2018, according to a statement to the Saudi Stock …
The financial impact of the opening of these centres will be shown as of the second quarter of 2019
31 March 10:30 AM Saudi Fitness Time opens SAR 18m branches in Jeddah
Riyadh – Mubasher: Leejam Sports Co (Fitness Time) on Sunday announced the opening of two new centres in the Saudi city of Jeddah. Spanning 6,690 square metres, the branches were built with SAR 18.4 million in investments, the company said in a …
Al Tayyar plans to ramp up its sales in online travel platforms to SAR 4 billion by 2020
26 March 05:22 PM Careem stake proceeds to prop up Al Tayyar’s business - CEO
Riyadh – Mubasher: Al Tayyar Travel Group Holding Co plans to expand in the Saudi travel sector by using revenues resulting from selling its 17.7% stake in Dubai-based ride sharing Careem to Uber Technologies, the CEO of the travel group said. The …
Uber signed an agreement to acquire its Middle East rival Careem for $3.1 billion
26 March 01:14 PM Al Tayyar Travel to receive SAR 1.78bn from Careem stake sale
Riyadh – Mubasher: Al Tayyar Travel Group Holding Co. expects to receive SAR 1.78 billion ($475 million) in revenues from selling its stake in Dubai-based ride-hailing Careem to Uber Technologies. The Saudi travel group will receive part of the …
This decision was based on Al Tayyar Travel’s request
25 March 10:37 AM Tadawul halts trading on Al Tayyar Travel stock on announcement
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced the suspension of trading on Al Tayyar Travel Group Holding starting from Monday. This decision was based on Al Tayyar Travel’s request ahead of announcing an event, according to …
Al Tayyar Travel will raise the number of shares by 90.35 million to 300 million
24 March 01:18 PM Saudi CMA approves Al Tayyar Travel capital raise
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Al Tayyar Travel Group Holding’s request to increase its capital to SAR 3 billion from SAR 2.096 billion. The capital raise will be carried out by offering two bonus shares …
The hotel will be managed by Marriott International.
19 March 09:37 AM Dur Hospitality opens Marriott hotel in Riyadh
Riyadh – Mubasher: Dur Hospitality Company has opened Marriott hotel in Riyadh’s Diplomatic Quarter. Spanning 25,000 square metres, the hotel includes 80 rooms and suites, and 140 five-star luxury apartments, according to a statement to the Saudi …
The company attributed the negative turn in its 2018 financials to a drop in the revenues of the existing entertainment centres
11 March 04:17 PM Al Hokair incurs SAR 76m loss in 2018
Riyadh – Mubasher: Saudi Arabia’s Abdul Mohsen Al Hokair Group for Tourism and Development Co on Monday reported turning to loss during the full-year year 2018, against achieving a profit in 2017. The firm’s net losses after calculating Zakat and …
Al Tayyar proposed a 43% capital top-up to SAR 3 billion
4 March 04:10 PM Saudi Al Tayyar Travel eyes online expansion
Riyadh – Mubasher: Saudi-based Al Tayyar Travel Group Holding aims to expand its online businesses in a bid to diversify revenue sources. The Saudi Arabian tourism operator is looking for new income sources after the end of a government deal for …
The food company attributed the slight rise in 2018 profit to a growth in sales other and income
28 February 04:20 PM Herfy Food Services logs SAR 204m profit in 2018
Riyadh – Mubasher: Saudi Arabia-based Herfy Food Services Co on Thursday reported a 2.1% year-on-year profit increase during the full-year 2018. Net profits after calculating Zakat and Tax amounted to SAR 204.17 million ($54.43 million) last year, …
The firm attributed the 2018 profit rise to a 9.2% or SAR 67.1 million growth in revenues
27 February 02:18 PM Leejam Sports logs SAR 180m profit in 2018
Riyadh – Mubasher: Saudi Arabia-based Leejam Sports Company “Fitness Time” on Wednesday reported a 3.4% year-on-year profit hike during the full-year 2018. Fitness Time’s net profits after calculating Zakat and Tax amounted to SAR 180.09 million …