Latest news with #ArabianContractingServicesCompany
Zawya
5 days ago
- Business
- Zawya
Saudi: Al Arabia turns to $28.93mln losses in H1-25
Riyadh – Arabian Contracting Services Company (Al Arabia) shifted to net losses valued at SAR 108.45 million in the first half (H1) of 2025, against net profits of SAR 148.14 million in H1-24. Revenues stood at SAR 974.04 million in H1-25, an annual rise of 19.78% from SAR 813.13 million, according to the financial results. Loss per share hit SAR 1.97 in the first six months (6M) of 2025, compared to earnings per share (EPS) of SAR 2.69 a year earlier. Financials for Q2-25 During the second quarter (Q2) of 2025, the company also turned to net losses of SAR 156.67 million, versus a net profit amounting to SAR 47.43 million in Q2-24. The sales increased by 15.04% year-on-year (YoY) to SAR 430.32 million in April-June 2025 from SAR 374.06 million. On a quarterly basis, Al Arabia swung to net losses in Q2-25 compared to net profits of SAR 48.22 million in Q1-25, whereas the revenues dropped by 20.85% from SAR 543.72 million. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
Zawya
30-04-2025
- Business
- Zawya
Saudi: Al Arabia's net profits up 15% in 2024
Riyadh: Arabian Contracting Services Company (Al Arabia) logged 14.75% higher net profits at SAR 271.28 million as of 31 December 2024, compared to SAR 318.23 million in 2023. The revenues hiked by 31.72% year-on-year (YoY) to SAR 1.68 billion in 2024 from SAR 1.27 billion, according to the financial results. This positive revenue growth is attributed to the expansion of the advertising network in the operational sectors of the company, along with the continued digital transformation initiatives. Earnings per share (EPS) retreated to SAR 4.93 last year from SAR 5.59 in 2023.
Zawya
29-04-2025
- Automotive
- Zawya
Mideast Stocks: Major Gulf markets gain on upbeat earnings, easing tariff concerns
Major stock markets in the Gulf rose in early trade on Tuesday, supported by upbeat corporate earnings and easing trade tensions between the U.S. and its partners. The U.S. would move to reduce the impact of duties imposed on foreign parts in domestically manufactured cars, and keep tariffs on cars made abroad from stacking up on other duties, officials said. China has exempted some U.S. imports from its 125% tariffs and is asking firms to identify critical goods they need levy-free, according to businesses that have been notified, in the clearest sign yet of Beijing's concerns about the trade war's fallout. Saudi Arabia's benchmark index edged 0.1% higher, helped by a 3.1% rise in Saudi Arabian Mining Company. Among other gainers, Arabian Contracting Services Company jumped 7%, after posting a steep rise in annual sales. However, the advertisement firm saw a decline in profit. On the other hand, Alinma Bank retreated 1.2%, after the lender reported a sequential fall in first-quarter profit. Dubai's main share index gained 0.3%, with top lender Emirates NBD advancing 1.2%. In Abu Dhabi, the index climbed 0.9%, buoyed by a 3.8% advance in First Abu Dhabi Bank as the United Arab Emirates' biggest lender beat first-quarter estimates. The bank reported a net profit of 5.13 billion dirhams ($1.40 billion), beating analysts' average expectations of 4.24 billion dirhams, according to data compiled by LSEG. Elsewhere, Aldar Properties gained 2%, on upbeat quarterly earnings, while Abu Dhabi Commercial Bank leapt 4.6% ahead of earnings announcement. The Qatari index added 0.2%, with Qatar Islamic Bank rising 1.4%. Meanwhile, Qatar Gas Transport dropped 1.3%, as the energy transporter is slated to report its first-quarter earnings. ($1 = 3.6728 UAE dirham)
Reuters
29-04-2025
- Business
- Reuters
Major Gulf markets gain on upbeat earnings, easing tariff concerns
April 29 (Reuters) - Major stock markets in the Gulf rose in early trade on Tuesday, supported by upbeat corporate earnings and easing trade tensions between the U.S. and its partners. The U.S. would move to reduce the impact of duties imposed on foreign parts in domestically manufactured cars, and keep tariffs on cars made abroad from stacking up on other duties, officials said. China has exempted some U.S. imports from its 125% tariffs and is asking firms to identify critical goods they need levy-free, according to businesses that have been notified, in the clearest sign yet of Beijing's concerns about the trade war's fallout. Saudi Arabia's benchmark index (.TASI), opens new tab edged 0.1% higher, helped by a 3.1% rise in Saudi Arabian Mining Company ( opens new tab. Among other gainers, Arabian Contracting Services Company ( opens new tab jumped 7%, after posting a steep rise in annual sales. However, the advertisement firm saw a decline in profit. On the other hand, Alinma Bank ( opens new tab retreated 1.2%, after the lender reported a sequential fall in first-quarter profit. Dubai's main share index (.DFMGI), opens new tab gained 0.3%, with top lender Emirates NBD ( opens new tab advancing 1.2%. In Abu Dhabi, the index (.FTFADGI), opens new tab climbed 0.9%, buoyed by a 3.8% advance in First Abu Dhabi Bank ( opens new tab as the United Arab Emirates' biggest lender beat first-quarter estimates. The bank reported a net profit of 5.13 billion dirhams ($1.40 billion), beating analysts' average expectations of 4.24 billion dirhams, according to data compiled by LSEG. Elsewhere, Aldar Properties ( opens new tab gained 2%, on upbeat quarterly earnings, while Abu Dhabi Commercial Bank ( opens new tab leapt 4.6% ahead of earnings announcement. The Qatari index (.QSI), opens new tab added 0.2%, with Qatar Islamic Bank ( opens new tab rising 1.4%. Meanwhile, Qatar Gas Transport ( opens new tab dropped 1.3%, as the energy transporter is slated to report its first-quarter earnings. ($1 = 3.6728 UAE dirham)
Zawya
06-02-2025
- Business
- Zawya
Arabian Contracting Services seals $259mln SAB finance deal
Arabian Contracting Services Company has announced the signing of a long-term credit facility agreement (sharia compliance) with the Saudi Awwal Bank (SAB) amounting to SAR972 million ($259 million). The credit facility is for a 8-year period and its proceeds will be used for refinancing the acquisition loan to Faden Media, said Arabian Contracting Services in its filing to Saudi bourse Tadawul. This is in alignment with the company's strategy to reduce the finance cost and increase the profitability, it stated. This also involves settling outstanding debts with other banks, said the company in its bourse filing. Additionally, Arabian Contracting Services said it is focused on enhancing profitability and minimising costs, aligning with its strategic financial direction to ensure the company remains in a strong and effective position. This approach aims to achieve sustainable and long-term returns for its shareholders, it added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
