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Seasonally adjusted Saudi GDP declined by 0.1% on a quarterly basis
10 May 01:03 PM Saudi Arabia’s annual GDP contracts by 3.3% in Q1
Riyadh – Mubasher: Saudi Arabia’s gross domestic product (GDP) witnessed a negative annual real growth rate of 3.3% during the first quarter (Q1) of 2021, compared to the same quarter of the previous year, according to flash estimates. The Saudi …
Manufacturing activities plunged 10.6% in January 2021
10 May 03:21 PM Saudi Arabia’s Industrial Production Index declines
Riyadh – Mubasher: The Industrial Production Index of Saudi Arabia decreased by 6.9% year-on-year (YoY) in January 2021, according to a recent report by the Saudi General Authority for Statistics (GaStat). The annual decline was attributed to …
The total loan is secured by a promissory note
10 May 03:08 PM MEPCO renews SAR 226m credit facilities deal with Riyad Bank
Riyadh – Mubasher: Middle East Paper Company (MEPCO) has extended a banking facilities agreement worth SAR 225.9 million with Riyad Bank, according to a bourse filing on Monday. The medium-term facilities total SAR 134.6 million and are valid for …
The new facility is Jarir’s 56th branch in Saudi Arabia
10 May 02:56 PM Jarir inaugurates new showroom
Riyadh – Mubasher: Jarir Marketing Company (Jarir Bookstores) has opened a new Showroom in South Aziziyah district Makkah, according to a bourse disclosure on Monday. The 4,073-square-metre establishment has a total investment cost of SAR 28 …
Revenues increased to SAR 5.82 billion in Q1-21
10 May 02:40 PM Satorp’s net losses widen 4% in Q1
Riyadh – Mubasher: Saudi Aramco Total Refining and Petrochemical Company (Satorp) incurred a net loss after Zakat and tax of SAR 620.91 million during the first quarter (Q1) of 2021, a decrease of 3.8% from SAR 645.81 million in Q1-20. Satorp …
SADAFCO posted a profit per share of SAR 8.14
10 May 01:50 PM SADAFCO records SAR 261m net profits in full year
Riyadh – Mubasher: Saudia Dairy and Foodstuff Company (SADAFCO) achieved a net profit after Zakat and tax worth SAR 260.89 million during the year ended on 31 March 2021. The net income was 1.59% lower than SAR 265.11 million in the prior year, …
Sales increased 17.3% YoY to SAR 12.01 million in Q1-21
10 May 12:08 PM Saudi Fisheries Q1 losses shrink 11.5%
Riyadh – Mubasher: Saudi Fisheries Company posted an annual decline of 11.5% in net loss after Zakat and tax to SAR 9.74 million during the first quarter (Q1) of 2021 from SAR 11.01 million in Q1-20. The company’s loss per share stood at SAR 0.24 …
Profit per share stood at SAR 0.54 in Q1-21
10 May 11:33 AM BinDawood records SAR 62m net profits in Q1
Riyadh – Mubasher: BinDawood Holding Company registered net profits after Zakat and tax worth SAR 62.11 million during the first quarter (Q1) of 2021, lower by 50.8% from the SAR 126.25 million registered in Q1-20. Profit per share stood at SAR …
Earnings per share (EPS) stood at SAR 0.08 in Q1-21
10 May 11:09 AM Chubb Arabia achieves lower net profit in Q1
Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company posted a 28% annual decline in net profits before Zakat to SAR 2.42 million during the first quarter (Q1) of 2021, compared with SAR 3.37 million. Earnings per share (EPS) stood at SAR …
Ash-sharqiyah Development posted a loss per share of SAR 0.04 in Q1-21
9 May 02:29 PM Ash-sharqiyah Development’s Q1 losses shrink 38.5%
Riyadh – Mubasher: Ash-sharqiyah Development Company registered a net loss after Zakat and tax of SAR 313,942 during the first quarter (Q1) of 2021, lower by 38.45% than SAR 510,141 in Q1-20. The company posted a loss per share of SAR 0.04 in …
Naseej International posted a loss per share of SAR 0.85 in Q1-21
9 May 02:17 PM Naseej International incurs 73% lower losses in Q1
Riyadh – Mubasher: Naseej International Trading Company posted a net loss after Zakat and tax of SAR 5.26 million during the first quarter (Q1) of 2021, down by 73% from SAR 19.54 million in Q1-20. The company posted a loss per share of SAR 0.85 …
Tawuniya’s profit per share reached SAR 0.47 in Q1-21
9 May 01:06 PM Tawuniya logs SAR 80m consolidated net profit in Q1
Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya) posted a 4.9% year-on-year (YoY) decline in consolidated net profits before Zakat to SAR 80.81 million during the first quarter (Q1) of 2021 from SAR 85.05 million. Tawuniya’s …
Sales decreased 12% QoQ from SAR 57.45 million
9 May 12:39 PM Alandalus Property’s Q1 profits increase 55%
Riyadh – Mubasher: Alandalus Property Company achieved an annual surge of 54.9% in net profits after Zakat and tax to SAR 18.96 million during the first quarter (Q1) of 2021, compared to SAR 12.24 million in Q1-20. Earnings per share (EPS) stood …
Chemanol's sales grew by 34.68% QoQ
9 May 11:59 AM Chemanol turns profitable in Q1
Riyadh – Mubasher: Methanol Chemicals Company’s (Chemanol) achieved net profits after Zakat and tax of SAR 29.88 million during the first quarter (Q1) of 2021, against net losses worth SAR 28.6 million in the same period last year. The company …
The bank will pay SAR 0.8 per share to the entitled shareholders
9 May 11:27 AM Saudi National Bank approves SAR 3.6bn dividends
Riyadh – Mubasher: The shareholders of the Saudi National Bank gave the green light for distributing cash dividends worth SAR 3.58 billion for 2020, according to a disclosure on Sunday. The bank will pay SAR 0.8 per share to the entitled …
The transaction was fully financed from Almarai’s operating cash flows
9 May 10:28 AM Almarai’s subsidiary concludes SAR 150m equity acquisition
Riyadh – Mubasher: Western Bakeries Company, a subsidiary of Almarai Company, has completed the acquisition of an additional 15% stake owned by Olayan Financing Company in Modern Food Industry. The total value of the acquisition stands at SAR 150 …
The appointment for both positions is for a three-year term starting 7 May 2021
9 May 10:03 AM Saudi Printing appoints Chairman, Vice Chairman
Riyadh – Mubasher: Saudi Printing and Packaging Company announced on Sunday the appointment of Adel bin Marzouq Al Nasser as the Chairman of the board, according to a disclosure to Tadawul. The company also named Muhammad Amin bin Dawood Qashqari …
Around 24 of Saudi Arabia’s largest companies plan to invest about SAR 5 trillion
4 May 03:17 PM Saudi Vision 2030 seen backing debt capital market – S&P
Riyadh – Mubasher: There is a development of Saudi debt markets as broadly supportive of the credit profiles of the Kingdom's banks and corporates over the long term, according to S&P Global Ratings. Banks will likely continue to play a key role …
Business growth has now been recorded in each month since September 2020
4 May 01:05 PM Saudi Arabia’s PMI rises to three-month high in April
Riyadh – Mubasher: The headline seasonally adjusted Purchasing Managers’ Index (PMI) for Saudi Arabia increased to 55.2 in April, marking the highest level in three months. Last month’s score was up from 53.3 in March, which indicates a marked …
Aramco says it demonstrated reliable upstream performance in Q1
4 May 11:35 AM Aramco records $21.7bn net income in Q1
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) achieved an increase of 30% in net profits to $21.7 billion (SAR 81.44 billion) during the first quarter (Q1) of 2021, compared with $16.7 billion (SAR 62.47 billion) in Q1-20, …
92% of shoppers in Saudi Arabia have access to more ways of payment
5 May 03:09 PM Consumer appetite for digital payments increases in KSA – Mastercard
Riyadh – Mubasher: About 94% of consumers in Saudi Arabia will rely on digital payments by 2022, including biometrics; digital wallets, transfers, and currencies; QR code; and contactless cards, according to Mastercard New Payments Index. In …
The 15 service stations are owned by First Mazaya Company
5 May 02:31 PM ADNOC Distribution receives approval to acquire 15 stations in Saudi Arabia
Mubasher: Saudi Arabia's General Authority for Competition has issued a no-objection certificate for Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) to acquire 15 service stations in the Eastern Province in Saudi Arabia. The …
The merger of the two entities will raise the integration level
5 May 02:13 PM New Zakat, Tax, Customs Authority to enhance business sector
Riyadh – Mubasher: Saudi Arabia’s newly formed Zakat, Tax, and Customs Authority will boost security and enhance the business environment while facilitating trade and procedures for Zakat, taxes, and customs transactions, Minister of Finance …
Saudi Airlines Catering generated SAR 256.3 million in revenues
5 May 01:37 PM Saudi Airlines Catering incurs losses in Q1
Riyadh – Mubasher: Saudi Airlines Catering Company suffered a net loss after Zakat and tax worth SAR 30 million during the first quarter (Q1) of 2021, against a net profit of SAR 15.6 million in the same three months last year. The company …
SEC’s loss per share stood at SAR 0.05 in Q1-21
5 May 01:13 PM SEC turns profitable in Q1-21
Riyadh – Mubasher: The Saudi Electricity Company (SEC) achieved a consolidated net profit after Zakat and tax worth SAR 1.68 billion during the first quarter (Q1) of 2021, against a net loss of SAR 2.44 billion in Q1-20. SEC’s loss per share stood …