Latest news with #JamjoomPharmaceuticalsFactoryCo.
Arab News
30-04-2025
- Business
- Arab News
Closing Bell: Saudi main index closes in red at 11,671
RIYADH: Saudi Arabia's Tadawul All Share Index dipped on Wednesday, losing 74.62 points, or 0.64 percent, to close at 11,671.58. The total trading turnover of the benchmark index was SR6.94 billion ($1.85 billion), as 47 stocks advanced, while 201 retreated. The MSCI Tadawul Index decreased by 4.89 points, or 0.33 percent, to close at 1,488.88. The Kingdom's parallel market Nomu dipped, losing 54.20 points, or 0.19 percent, to close at 28,277.17. This came as 24 stocks rose, while 49 fell. The best-performing stock on the main index was Jamjoom Pharmaceuticals Factory Co., with its share price surging by 9.91 percent to SR173. In the first quarter of 2025, the company's net profit rose 204.26 percent quarter-on-quarter to SR157.03 million, according to a filing on the stock exchange. The group attributed the increase to higher sales and more efficient absorption of operating expenses, resulting in strong operating leverage. MBC Group Co. recorded the day's steepest decline, with its share price slipping 4.42 percent to SR41.10. Advanced Petrochemical Co. announced its interim financial results for the first three months of the year, reporting a net profit of SR72 million — a 224.1 percent increase from the same quarter last year. Americana Restaurants International PLC also announced its financial results for the same period, with its net profit reaching SR122.4 million in what is an annual increase of 16.5 percent. Similarly, the company's total comprehensive income saw a surge of 44.5 percent to SR128.13 million. Its share price traded 3.04 percent higher on the main market to reach SR2.32. Modern Mills for Food Products Co. also announced its interim financial results for the first three months of the year, with net profit amounting to SR65.6 million, a 29.2 percent surge compared to the previous quarter. The company attributed the increase to higher gross margin, operational efficiencies and lower finance cost. Modern Mills for Food Products Co.'s share price traded 0.26 percent higher on the main market to reach SR39. Banque Saudi Fransi has launched the offering of US dollar-denominated additional Tier 1 capital notes as part of its international issuance program, the bank said in a bourse filing. The offering, conducted under its Additional Tier 1 Capital Note Programme, targets eligible investors in Saudi Arabia and internationally, the statement added. The subscription period is scheduled to begin on April 30 and end on May 1, with a minimum subscription set at $200,000 and increments of $1,000 thereafter. The value, pricing, and yield of the perpetual instruments — which are callable after six years — will be determined based on prevailing market conditions.
Arab News
25-02-2025
- Business
- Arab News
Closing Bell: Saudi main index closes in red at 12,301
RIYADH: Saudi Arabia's Tadawul All Share Index dipped on Tuesday, losing 18.23 points, or 0.15 percent, to close at 12,301.23. The total trading turnover of the benchmark index was SR5.31 billion ($1.41 billion), as 108 stocks advanced, while 128 retreated. The MSCI Tadawul Index decreased by 2.09 points, or 0.14 percent, to close at 1,542.86. The Kingdom's parallel market, Nomu, dipped, losing 124.95 points, or 0.4 percent, to close at 31,272.73. This comes as 34 stocks advanced while 52 retreated. The best-performing stock was Miahona Co., with its share price surging by 5.88 percent to SR25.75. Other top performers included Al-Babtain Power and Telecommunication Co., which saw its share price rise by 4.24 percent to SR45.50, and Saudi Industrial Development Co., which saw a 4.23 percent increase to SR29.60. The worst performer was Saudi Ceramic Co., whose share price fell by 9.97 percent to SR30.25. CHUBB Arabia Cooperative Insurance Co. and Malath Cooperative Insurance Co. also saw declines, with their shares dropping by 9.47 percent and 8.47 percent to SR43.50 and SR15.12, respectively. On the announcements front, Saudi Ceramic Co. announced its financial results for 2024, with net losses reaching SR79.2 million, down by 66.6 percent compared to the previous year. In a statement on Tadawul, the company attributed the decrease to the losses recorded in 2023. The company allocated an SR165 million provision to cover the impact of a fire incident at one of its factories and recognized an SR78 million asset impairment in its subsidiary, Ceramic Pipes Co. Additionally, this year's net loss was affected by non-cash losses, including an SR51 million impairment in property, plant, and equipment in the red bricks sector and the Ceramic Pipes Co., as well as SR44 million in inventory provisions. Selling and distribution expenses increased due to rising transportation costs following the fuel price hike at the beginning of 2024. Jamjoom Pharmaceuticals Factory Co. announced its annual financial results for 2024. The company's net profit in 2024 reached SR356.5 million, up from SR292.4 million in the previous year, driven by strong revenue growth and an effective strategy to optimize profitability and operating cost control. The firm also highlighted that a profit contribution from the joint venture in Algeria supported earnings but was partially offset by the negative foreign exchange impact of the Egyptian pound devaluation. In Tuesday's trading session, Jamjoom Pharmaceuticals Factory Co.'s shares traded 3.60 percent higher on the main market to close at SR167. National Medical Care Co. also announced its financial results for the previous year, with net profits reaching SR298.1 million, up 23.7 percent compared to 2023. In a statement on Tadawul, the company attributed the increase in profit to several factors. These included higher revenue, a lower cost-of-sales ratio, improved cost efficiency, and a 22.8 percent rise in gross profit due to better margins. It also benefited from the reversal of some legal claims, contributions from the full-year impact of the Chronic Care Hospital acquired in November 2023, higher other income, and favorable Zakat expenses from finalized assessments for 2019-2022, which led to the reversal of previous provisions. However, these gains were partially offset by several factors. Marketing expenses increased due to more campaigns, while provisions for expected credit losses rose due to economic adjustments and slower recoveries. General and administrative expenses also grew due to the consolidation of new facilities acquired in 2023. Additionally, higher interest costs from new financing and losses from Al Salam Hospital in the three months following its October acquisition contributed to the offset. Earnings before interest, taxes, depreciation, and amortization improved to SR377.4 million from SR301.7 million in 2023. The EBITDA margin increased by 1.3 percentage points, reaching 29.2 percent. National Medical Care Co.'s shares traded 1.77 percent higher in today's trading session on the main market to close at SR172.80. Wataniya Insurance Co. announced its annual financial results for 2024. The firm's net profit after zakat attributable to shareholders in 2024 reached SR103 million, up from SR84.5 million in the previous year, driven by two factors: an increase of SR7.3 million in net insurance service results from the company's directly written business, driven by business growth, and an increase of SR26.3 million in investment returns. However, these gains were partially offset by a decrease in the share of surplus from insurance pools, which amounted to SR1.7 million, down 84.9 percent from the previous year. Additionally, other operating expenses increased to SR22.1 million, up 7.5 percent from the previous year. Wataniya Insurance Co.'s shares traded 2.24 percent higher on the main market to close at SR23.70.
Argaam
11-02-2025
- Business
- Argaam
Jamjoom Pharma provides SAR 27.1M guarantee to JV in Algeria
Jamjoom Pharmaceuticals Factory Co.'s (Jamjoom Pharma) joint venture in Algeria, Jamjoom Algeria lil Dawa (Jamjoom Algeria), renewed on Feb. 10 a Shariah-compliant short-term revolving banking facility with Al Salam Bank Algeria at DZD 2 billion (SAR 55.3 million). To support the credit facility issuance, Jamjoom Pharma provided a corporate guarantee of DZD 980 million (SAR 27.1 million) to the bank, in line with Algerian law and in proportion to its joint venture share, the company said in a statement to Tadawul. The facility aims to fund the short-term working capital requirements, the statement added. However, the company said that the previous guarantee of DZD 666.4 million (SAR 18.50 million), announced on Nov. 22, 2023, in favor of the bank was no longer valid. Jamjoom Algeria is a related party as the company's board members, Mahmoud Yousuf Jamjoom and Ahmed Yousuf Jamjoom, have a direct interest as board members of the Algeria venture. Meanwhile, Jamjoom Pharma members – Yousuf Salah Jamjoom, Mohammed Yousuf Jamjoom, and Alaa Yousuf Jamjoom – have an indirect interest.
