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25 March 06:35 PM SADAFCO unveils financial results after changing fiscal year
Riyadh – Mubasher: Saudia Dairy and Foodstuff Company (SADAFCO) has revealed its financial results for the period ended on 31 December 2023 after it had changed the fiscal year (FY) to be from January to December each year, instead of April to …
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25 March 02:42 PM Al Jouf Agricultural appoints new Chairman, Vice Chairman
Riyadh – Mubasher: Al Jouf Agricultural Development Company named Badr bin Hamed Al Awjan as the Chairman of the board for the coming three years. Rasheed bin Rashed bin Saad bin Owain was announced as the Vice Chairman of the board, according to …
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25 March 01:44 PM Ash-Sharqiyah Development’s loss shrinks 94% YoY in 2023
Riyadh – Mubasher: Ash-Sharqiyah Development Company posted a 94.19% year-on-year (YoY) drop in net losses to SAR 185,743 in 2023 from SAR 3.19 million. The earnings per share (EPS) tumbled to SAR 0.01 last year from SAR 0.43 in 2022, according to …
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24 March 03:10 PM Wafrah announces Al Mansour as Acting CEO
Riyadh – Mubasher: Mohammad Abdulaziz Al Fadhli will not renew his contract as the CEO of Wafrah for Industry and Development Company, according to a bourse disclosure. Al Fadhli submitted his resignation on 21 March 2024, yet it will be effective …
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21 March 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 …
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18 March 04:51 PM Almarai unveils SAR 18bn strategic plan
Riyadh – Mubasher: The board of Almarai Company greenlighted a strategic plan for the five years ending on 31 December 2028, with an investment programme exceeding SAR 18 billion. The plan aims to enhance continuous growth, enlarge sales, and …
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17 March 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 …
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11 March 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 …
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20 February 03:12 PM Balady Poultry rolls out agreement with China-based Famsun
Riyadh – Mubasher: Balady Poultry Company has signed a contract with Famsun Company Limited to establish a feed production plant at a value of $7 million, according to a bourse filing. Balady Poultry inked the deal with the Chinese firm on 19 …
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18 February 03:54 PM Nadec’s net profit jumps 216% YoY in 2023
Riyadh – Mubasher: National Agricultural Development Company’s (Nadec) net profit soared 216.33% year-on-year (YoY) to SAR 302.06 million in 2023 from SAR 95.49 million. The company’s revenues surged by 18.66% YoY to SAR 3.19 billion last year …
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7 February 05:49 PM Savola Group’s profits rise 21% in 2023; capital raise unveiled
Riyadh – Mubasher: Savola Group logged net profits valued at SAR 899.19 million in 2023, higher by 21.06% than SAR 742.75 million in 2022. Revenues dropped by 4.32% to SAR 26.84 billion last year from SAR 28.05 billion as of 31 December 2022, …
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29 January 11:25 AM Horizon Food appoints Al Harbi as new CEO
Riyadh – Mubasher: Sultan Al Harbi was announced as the CEO of Horizon Food Company as the new CEO, effective from 1 February 2024, according to a bourse filing. Al Harbi has specialised practical experience in the field of food for over 30 years, …
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23 January 02:54 PM Saudi Al Jouf Agricultural, Korea’s EGG pen joint agreement
Riyadh – Mubasher: Al Jouf Agricultural Development Company inked a memorandum of understanding (MoU) with the Korean company E Green Global (EGG) on 22 January 2024. The deal covers transferring the technology of potato seed production to be …
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21 January 04:35 PM TADCO to have new CEO in April
Riyadh – Mubasher: Tabuk Agricultural Development Company (TADCO) will have Yahya Ahmed Mubaraki as its new CEO starting from 1 April 2024. The appointment decision was made during the board meeting on 20 January this year, according to a bourse …
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21 January 12:30 PM Almarai’s net profits exceed SAR 2bn in 2023 results
Riyadh – Mubasher: The net profits after Zakat and tax of Almarai Company surged by 16.43% year-on-year (YoY) to SAR 2.04 billion in 2023 from SAR 1.75 billion, according to the consolidated financial results. The Saudi firm posted revenues valued …
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17 January 01:13 PM Wafrah names Chairman, Deputy Chairman
Riyadh – Mubasher: Wafrah for Industry and Development Company appointed Saad Solaib Mutlaq Alotaibi as Chairman of the board for the next three years. Mohamed Yagoub Yousuf Almukhadeb was announced as the Deputy Chairman, according to a bourse …
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8 January 12:38 PM Saudi Jazadco unveils rebranding
Riyadh – Mubasher: Jazan Energy and Development Company (Jazadco) has changed its name to Jazan Development and Investment Company, according to a bourse filing. The rebranding was implemented after completing all the regularity procedures in …
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2 January 04:31 PM Saudi Fisheries mulls 53% capital reduction
Riyadh – Mubasher: The board of Saudi Fisheries Company recommended a 52.89% capital reduction to SAR 188.44 million from SAR 400 million. The number of shares will be 18.84 million following the cut, instead of 40 million shares, according to a …
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28 December 2023 04:03 PM Jazadco secures SAR 21m to boost working capital
Riyadh – Mubasher: Jazan Energy and Development Company (Jazadco) signed a SAR 21 million loan agreement with the Agricultural Development Fund on 5 December 2023 to finance the working capital. The funding will be used to support the working …
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20 December 2023 01:44 PM Tanmiah obtains SAR 450m financing to boost expansion plans
Riyadh – Mubasher: Tanmiah Food Company secured a new Long-term credit facility amounting to SAR 450 million from Banque Saudi Fransi on 19 December 2023. Tanmiah will use the financing to back its strategic expansion plans, according to a bourse …
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20 December 2023 10:07 AM Almarai’s board mulls 10% of capital as dividends for 2023
Riyadh – Mubasher: Almarai Company announced the board’s proposal to pay cash dividends to shareholders amounting to SAR  1 billion for 2023, according to a bourse disclosure. The Saudi firm will grant a dividend of SAR 1 per share, equivalent to …
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6 December 2023 00:29 PM Halwani Bros obtains SAR 150m financing from Banque Saudi Fransi
Riyadh – Mubasher: Halwani Bros Company secured a facility deal valued at SAR 150 million from Banque Saudi Fransi on 5 December 2023. The listed company will use the financing to boost its working capital, according to a bourse filing. The …
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15 November 2023 04:24 PM Balady Poultry’s net profits drop nearly 3% in 9M-23; dividends for Q3-23 unveiled
Riyadh – Mubasher:  The net profit after Zakat and tax of Balady Poultry Company declined by 2.84% year-on-year (YoY) to SAR 64.20 million in the first nine months (9M) of 2023, compared to SAR 66.08 million. The company’s earnings per share (EPS) …
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13 November 2023 01:25 PM Jazadco’s net profits decline 31.5% in 9M-23; accumulated losses reported
Riyadh – Mubasher: Jazan Energy and Development Company (Jazadco) posted net profits after Zakat and tax of SAR 18.64 million in the first nine months (9M) of 2023, a drop of 31.57% compared to SAR 27.24 million in the same period of 2022. The …
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8 November 2023 03:12 PM Savola Group posts SAR 20.25bn revenues in 9M-23; profits up
Riyadh – Mubasher: Savola Group registered an annual rise of 3.68% in net profit after Zakat and tax to SAR 672.13 million during the first nine months (9M) of 2023, compared to SAR 648.28 million. Revenues dropped by 5.55% year-on-year (YoY) to …