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News

1 May 03:55 PM Ooredoo unveils QAR 913m net profits in Q1-24, dividends

Mubasher: The net profits attributable to the shareholders of National Mobile Telecommunications Company (Ooredoo) reached QAR 912.93 million in the first quarter (Q1) of 2024. The generated net profits were lower by 5% year-on-year (YoY) than QAR …

Financial Results

1 May 01:30 PM Ma'aden to increase capital for additional stake in Saudi JV

Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) penned a deal to acquire the entire shares of Mosaic Phosphates B.V. in Ma’aden Wa’ad Al Shamal Phosphate Company (MWSPC). Ma’aden inked the share purchase and subscription agreement (SPSA) …

Companies Investments

1 May 11:38 AM Ladun Investment inks 2-year deal with UK's Cheval Collection

Riyadh – Mubasher: Ladun Investment Company has signed a contract with UK-based Cheval Collection to manage and operate the Cheval Ladun residential tower located on King Fahd Road in Riyadh. The contract was signed on 30 April 2024 for a duration …

Companies Investments

1 May 10:29 AM Alinma Bank’s net profit leaps 35% YoY in Q1-24

Riyadh – Mubasher: Alinma Bank reported a 35.55% year-on-year (YoY) surge in net profit to SAR 1.31 billion in the first quarter (Q1) of 2024 from SAR 969.90 million. The earnings per share (EPS) hit SAR 0.64 in Q1-24, up from SAR 0.46 in Q1-23, …

Financial Results

30 April 02:19 PM Takween's net losses shrink nearly 84.5% YoY in Q1-24

Riyadh – Mubasher: Takween Advanced Industries Company logged an 84.48% year-on-year (YoY) plunge in net losses to SAR 3.99 million in the first quarter (Q1) of 2024 from SAR 25.75 million. Revenues declined by 21.26% YoY to SAR 183.14 million in …

Financial Results

30 April 12:35 PM 2P Prefect Presentation rolls out SAR 201m agreement

Riyadh – Mubasher: Prefect Presentation for Commercial Services (2P Prefect Presentation)  inked a contract for operating the Ministry of Health’s contact centres with a value of SAR 200.99 million. The two parties sealed the agreement on 29 April …

Companies Investments

30 April 11:22 AM Almunajem Foods acquires 23% additional stake in Balady Poultry

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 …

Mergers and Acquisitions

29 April 03:42 PM Bank Albilad’s net profits hike to SAR 643m in Q1-24

Riyadh – Mubasher: The net profits of Bank Albilad increased by 14.85% to SAR 643.10 million in the first quarter (Q1) of 2024 from SAR 559.90 million in Q1-23. The clients’ deposits witnessed an annual growth of 7.82% to SAR 113.74 billion as of …

Banking and Finance

29 April 12:39 PM SNB’s profits exceed SAR 5bn in Q1-24

Riyadh – Mubasher: The Saudi National Bank (SNB) logged net profits amounting to SAR 5.04 billion in the first quarter (Q1) of 2024, up 0.35% year-on-year (YoY) from SAR 5.02 billion. SNB reported 7.44% higher clients’ deposits at SAR 656.26 …

Financial Results

29 April 09:50 AM Savola Group submits capital increase request to CMA

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 …

Corporate Actions

28 April 06:39 PM Riyad Bank achieves SAR 2.07bn net profits in Q1-24

Riyadh – Mubasher: Riyad Bank generated net profits worth SAR 2.07 billion in the first quarter (Q1) of 2024, marking a 2.63% increase from SAR 2.01 billion in Q1-23. The earnings per share (EPS) stood at SAR 0.66 during the January-March 2024 …

Financial Results

28 April 04:18 PM Retal Urban Development seals SAR 240m deal with subsidiary

Riyadh – Mubasher: Retal Urban Development Company has signed a SAR 240 million agreement with its subsidiary Building Construction Company to build eight residential buildings in Riyadh. The agreement was signed on 25 April 2024 for 26 months, …

Companies Investments

28 April 01:13 PM Saudi Steel Pipe logs 1,166% profit surge in Q1-24

Riyadh – Mubasher: Saudi Steel Pipe Company posted a 1,166% year-on-year (YoY) increase in net profit to SAR 76 million in the first quarter (Q1) of 2024 from SAR 6 million. Revenues soared 208.38% YoY to SAR 515 million in Q1-24 from SAR 167 …

Financial Results

28 April 01:04 PM ANB’s net profit rises 16% YoY in Q1-24

Riyadh – Mubasher: Arab National Bank (ANB) reported a 15.73% year-on-year (YoY) jump in net profit to SAR 1.23 billion in the first quarter (Q1) of 2024 from SAR 1.06 billion. Total operations profit went up by 5.91% YoY to SAR 2.30 billion in …

Banking and Finance

25 April 04:49 PM Sure Global Tech pens SAR 60m deal with Shura Council

Riyadh – Mubasher: Sure Global Tech Company inked a contract with the Shura Council, on 24 April, to operate and maintain computers for the Shower project. The two entities penned the agreement at a value of SAR 60.09 million, according to a …

Companies Investments

25 April 04:18 PM Americana Restaurants’ general assembly nod for AED 661m dividends

Mubasher: Americana Restaurants International, also listed on the Abu Dhabi Securities Exchange (ADX), announced the shareholders’ approval for cash dividends valued at AED 661.25 million  The general assembly meeting greenlighted dividends of AED …

General Assembly

25 April 03:32 PM Keir International, Tanmiah sign SAR 24m contract for consultation services

Riyadh – Mubasher: Keir International Company has inked a SAR 24 million agreement with the National Program for Community Development in Regions (Tanmiah) for consultation services in digital transformation. The agreement includes implementing a …

Companies Investments

24 April 01:24 PM Saudi foreign trade authority awards contract to Sure Global Tech

Riyadh – Mubasher: Saudi Arabia’s General Authority of Foreign Trade has awarded Sure Global Tech Company a SAR 13.86 million contract to diversify and develop supply chains in goods to ensure abundance and quality. The contract includes the …

Companies Investments

24 April 11:35 AM Alinma Bank’s EGM nods for 25% capital hike

Riyadh – Mubasher: The shareholders of Alinma Bank greenlighted the board’s proposal to increase the capital by SAR 5 billion from the retained earnings by way of granting one share for every four shares. The lender’s extraordinary general meeting …

Corporate Actions

24 April 11:25 AM Fitness Time opens new men's centre in Al Majma

Riyadh – Mubasher: Leejam Sports Company (Fitness Time) inaugurated a new centre for men in Al Majma Province on 23 April 2024. Situated on Umar bin Al Khattab Road in King Abdul Aziz district, the new centre operates under the brand Fitness Time, …

Companies Investments

23 April 05:13 PM First Mills’ profit rises 5% YoY in Q1-24

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 …

Financial Results

23 April 04:16 PM Alhokair Group unveils 2 key appointments

Riyadh – Mubasher: Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) appointed Sami Abdul Mohsen Abdulaziz Al Hokair as the Chairman of the board for four years. Faisal Mohammed Ibrahim Al Malik was named as the board’s Vice …

Board of Directors

23 April 03:21 PM Al Yamamah Steel begins commercial production of Jeddah Pipes factory

Riyadh – Mubasher: Al Yamamah Steel Industries Company highlighted that the first phase of the expansion of the Jeddah Pipes factory started commercial production in April 2024. In a bourse statement, the company noted that the financial impact is …

Companies Investments

23 April 12:58 PM Al Qemam seals deal for information technology services

Riyadh – Mubasher: Al Qemam for Computer Systems Company has signed a SAR 7.33 million agreement with Afaq Saher Contracting Est for information technology services. Under the agreement, Al Qemam will implement information technology systems, …

Companies Investments

22 April 12:52 PM Fitness Time anchors expansion plans via new centre in Al Taif

Riyadh – Mubasher: Leejam Sports Company (Fitness Time) inaugurated a new centre for ladies in Al Taif on 21 April 2024, according to a bourse filing. Located in Wadi Waj Road, Al Qamariah district, the new centre will include advanced facilities …

Companies Investments