Sector News

Riyadh – Mubasher: Sinad Holding Company incurred 71.01% year-on-year (YoY) lower net losses at SAR 13.10 million in the first half (H1) of 2024, compared to SAR 45.20 million. The revenues amounted to SAR 844.50 million in H1-24, up 9.12% from …

Riyadh – Mubasher: Savola Group witnessed 7.75% lower net profits at SAR 484.10 million in the first half (H1) of 2024, versus SAR 524.80 million, according to the financial results. The Saudi group achieved revenues valued at SAR 13.15 billion in …

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 …

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 …

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 …

Riyadh – Mubasher: National Agricultural Development Company (Nadec) reported a 107.36% year-on-year (YoY) surge in net profit to SAR 213.21 million in the first half (H1) of 2024 from SAR 102.82 million in the same period a year earlier. Sales …

Riyadh – Mubasher: The consolidated net profit of Almarai Company rose by 10.04% year-on-year (YoY) to SAR 1.31 billion during the first half (H1) of 2024 from SAR 1.19 billion. The company’s revenue grew by 7.65% YoY to SAR 10.61 billion in H1-24 …

Riyadh – Mubasher: Tabuk Agricultural Development Company (TADCO) appointed Majid Ahmed Ibrahim Al Suwaigh as the Chairman of the board for the next three years. Ahmed Sirag Khogeer was appointed as the Vice Chairman, according to a bourse …

Riyadh – Mubasher: First Milling Company (First Mills) penned a financing facility agreement worth SAR 150 million with the Saudi Industrial Development Fund (SIDF) on 25 June 2024. The facility deal will support the company’s working capital and …

Riyadh – Mubasher:  National Agricultural Development Company (Nadec) has announced that the Saudi Capital Market Authority (CMA) approved the registration and public offering of 15.39 million shares of Arabian Mills for Food Products, …

Riyadh – Mubasher: Almarai Company partnered with Saudi Arabia's Social Development Bank to launch a new training programme for small catering businesses. Dubbed 'Almarai Chefs', the programme aims to empower and support owners of cooking projects …

Riyadh – Mubasher: The shareholders of Modern Mills for Food Products Company greenlighted SAR 81.83 million, equivalent to 100% of the share capital, for 2023.  The firm will pay out a dividend of SAR 1 per share on 7 July 2024, according to a …

Riyadh – Mubasher: The Insurance Authority (AI) greenlighted, on 2 June, the request of Salama Cooperative Insurance Company to increase its capital by offering rights issues worth SAR 100 million. The company’s new capital will stand at SAR 300 …

Riyadh – Mubasher: Jazan Development and Investment Company (Jazadco) turned to net losses valued at SAR 40.93 million in the first quarter (Q1) of 2024, compared to net profits worth SAR 1.78 million in Q1-23. Revenues dropped by 47.28% to SAR …

Riyadh – Mubasher: Almarai Company has completed the acquisition of Etmam Logistics for SAR 182 million. Almarai said that the acquisition will enhance its capabilities to serve customers with an expanded range of frozen products across Saudi …

Riyadh – Mubasher: Sinad Holding Company registered SAR 14 million in net loss during the first quarter (Q1) of 2024, an annual plunge of 34.88% from SAR 21.50 million. The revenues hit SAR 443.90 million in the January-March 2024 period, up 6.37% …

Riyadh – Mubasher: The board of Nofoth Food Products Company proposed a cash dividend worth SAR 0.20 per share for 2023. During its 7 May 2024 meeting, the board recommended paying 20% of the SAR 48 million capital as dividends for last year, …

Riyadh – Mubasher: Savola Group posted an 11.21% decline in net profit to SAR 348.71 million during the first quarter (Q1) of 2024 compared with SAR 392.75 million in Q1-23. The earnings per share (EPS) went down to SAR 0.66 as of 31 March 2024 …

Riyadh – Mubasher: National Agricultural Development Company (Nadec) generated net profits worth SAR 101.33 million in the first quarter (Q1) of 2024, signalling a 168.85% annual leap from SAR 37.69 million. The earnings per share (EPS) increased …

Riyadh – Mubasher: Almunajem Foods Company has signed a binding share purchase agreement with existing shareholders in Balady Poultry Company. Under the agreement, Almunajem Foods will buy around 1.51 million shares, representing 23% of …

Riyadh – Mubasher: Savola Group submitted an application file to the Capital Market Authority (CMA), on 28 April 2024, to raise its capital to SAR 11.33 billion from SAR 5.33 billion. The listed group plans to increase its capital by offering …

Riyadh – Mubasher: The net profit of First Milling Company (First Mills) grew 5.37% year-on-year (YoY) to SAR 77.72 million during the first quarter (Q1) of 2024 from SAR 73.75 million in the comparative period of 2023. Revenues rose 8.17% YoY to …

Riyadh – Mubasher: Tabuk Agricultural Development Company (TADCO) has signed a non-binding memorandum of understanding (MoU) with Saudi Greenhouse and Agri Marketing Company to construct and manage high-tech greenhouses and marketing agriculture …