By: Thabet Shehata

Riyadh – Mubasher: Forty companies listed on the Saudi Stock Exchange (Tadawul) registered losses during the second quarter of 2018.

Total losses reached SAR 994.46 million ($265.2 million) in Q2-18, according to Mubasher's statistics.

For the first half of 2018, the Saudi bourse's 40-listed companies incurred combined losses of SAR 1.44 billion ($385.2 million).

Jabal Omar Development Company topped the market’s decliners with total losses of SAR 148 million in Q2-18, while Saudi Cable Company ranked the second losing SAR 97.24 million, data showed.

Similarly, net losses of Etihad Etisalat Company (Mobily), which came in the third place, declined 58.54% year-on-year to SAR 78.6 million during the three-month period ended June.

However, Amana Cooperative Insurance Company (Amana) incurred the least losses, after narrowing them by 83.84% year-on-year to SAR 290,000 in Q2-18.

It is worth noting that 164 listed firms have announced their second-quarter financial results during the statutory deadline, ended Thursday, 9 August, with total profits of SAR 30.8 billion.

Translated by: Kholoud Mohamed Hussein