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Arab News
22-05-2025
- Business
- Arab News
Closing Bell: Saudi main index ends lower at 11,188
RIYADH: Saudi Arabia's Tadawul All Share Index closed in the red on Thursday, falling 114.94 points, or 1.02 percent, to settle at 11,188.74. The total trading turnover reached SR4.4 billion ($1.17 billion), with 76 stocks advancing and 165 declining. The MSCI Tadawul 30 Index also dropped, losing 12.2 points, or 0.85 percent, to close at 1,428.81. The Kingdom's parallel market Nomu declined by 156.89 points, or 0.57 percent, to close at 27,260.73, with 29 stocks gaining and 49 retreating. The best-performing stock of the day was Saudi Reinsurance Co., rising 3.70 percent to SR49. Other top gainers included Al-Rajhi Company for Cooperative Insurance, whose share price rose 3.65 percent to SR119.2, and Umm Al-Qura Cement Co., which gained 3.42 percent to SR17.54. The day's largest decline was seen in SHL Finance Co., with its share price dipping 4.93 percent to SR19.30. Al-Etihad Cooperative Insurance Co. saw its shares drop 3.86 percent to SR13.44, while Saudi Arabian Oil Co. declined 3.64 percent to SR25.15. The best performer on the Kingdom's parallel market was Enma AlRawabi Co., with its share price surging by 7.77 percent to reach SR24.98. Lamasat Co.'s share price increased by 7.58 percent to reach SR7.1, and Natural Gas Distribution Co. reached SR47, increasing by 6.82 percent. Albattal Factory for Chemical Industries Co. was the worst performer on the parallel market, declining 16.83 percent to reach SR42.
Arab News
12-05-2025
- Business
- Arab News
Closing Bell: Saudi main index closes in green at 11,488
RIYADH: Saudi Arabia's Tadawul All Share Index rose on Monday, gaining 142.01 points, or 1.25 percent, to close at 11,488.60. The total trading turnover of the benchmark index was SR6.13 billion ($1.63 billion), as 216 stocks advanced, while only 28 retreated. The MSCI Tadawul Index increased by 16.67 points, or 1.15 percent, to close at 1,468.46. The Kingdom's parallel market, Nomu, dipped, losing 80.32 points, or 0.29 percent, to close at 27,343.13. This comes as 45 stocks advanced, while 31 retreated. The best-performing stock on the main index was Saudi Ceramic Co. with its share price surging by 9.95 percent to SR30.40. Other top performers included Batic Investments and Logistics Co., which saw its share price rise by 7.76 percent to SR2.36, and Naseej International Trading Co., which saw a 7.39 percent increase to SR87.20. The worst performer of the day was SHL Finance Co., whose share price fell by 3.92 percent to SR19.12. Maharah Human Resources Co. and Almunajem Foods Co. also saw declines, with their shares dropping by 3.68 percent and 1.51 percent to SR5.50 and SR71.90, respectively. On the announcements front, Arabian Centres Co. declared its interim financial results for the first three months of the year with net profit amounting to SR222.7 million, a 37.5 percent dip compared to the previous quarter. The company attributed the decrease to a dip in net fair value gain of investment properties and a rise in the cost of revenues. Higher finance costs, driven by increased debt from development projects, also contributed to the decline. Cenomi Centers' shares on the main market traded 0.20 percent lower to reach SR20.08. Retal Urban Development Co. also announced its financial results for the same period with its net profit dropping by 26.05 percent to SR68.13 million compared to the previous quarter. The company credited the decrease mainly due to exit from real estate fund during the previous quarter. Retal's share price remained stable at SR17.04. Saudi Awwal Bank announced its intention to issue US dollar-denominated additional tier 1 Capital Sustainable Sukuk through a private placement in Saudi Arabia and internationally. The issuance, part of the bank's $5 billion sukuk program, aims to strengthen its capital base and support long-term strategic goals. Joint lead managers, including HSBC, Merrill Lynch, and Citigroup, will oversee the offering, an official statement on Tadawul said. The final terms and value of the sukuk will be determined based on market conditions, the statement added. SAB's shares on the main market traded 2.19 percent higher in today's trading session to reach SR34.95.
Arab News
11-05-2025
- Business
- Arab News
Closing Bell: Saudi main index slips to close at 11,346
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Sunday, losing 17.52 points, or 0.15 percent, to close at 11,346.59. The total trading turnover of the benchmark index was SR3.32 billion ($896 million), as 108 of the stocks advanced and 128 retreated. The Kingdom's parallel market, Nomu, also lost 508.04 points, or 1.82 percent, to close at 27,423.45. This comes as 30 stocks advanced while 45 retreated. The MSCI Tadawul Index followed suit and lost 0.22 points, or 0.02 percent, to close at 1,451.79. The best-performing stock of the day was SHL Finance Co., whose share price surged 8.74 percent to SR19.90. Other top performers included SICO Saudi REIT Fund, which saw its share price rise 6.54 percent to SR4.40, as well as National Medical Care Co., whose shares surged 4.93 percent to SR149. Middle East Specialized Cables Co. recorded the steepest decline, falling 8.33 percent to SR33. Fawaz Abdulaziz Alhokair Co. followed with a 6.62 percent drop to SR14.94, while Saudi Chemical Co. slipped 6.47 percent to SR8.39. On the announcements front, MBC Group Co. reported its interim financial results for the period ending March 31. According to a statement on Tadawul, the company posted a net profit of SR263.5 million in the first quarter of 2025, marking a 117.2 percent increase compared to the same period in 2024. The surge in profit was primarily driven by a SR190 million rise in gross profit, attributed to higher revenues during the month of Ramadan. MBC Group Co. ended the session at SR43.90, up 0.47 percent. Al-Rajhi Co. for Cooperative Insurance also announced its interim financial results for the first quarter. A bourse filing showed that the company posted a net profit of SR90.7 million for the period ending March 31, representing an 18.4 percent decline compared to the same quarter last year. The drop in net profit was primarily attributed to a decrease in the insurance service result before re-takaful, total comprehensive income, and total investment income, as well as an increase in other operating expenses and gross written premiums. Al-Rajhi Co. for Cooperative Insurance ended the session at SR123.40, down 2.76 percent. Saudi Ground Services Co. has announced its interim financial results for the period ending March 31. According to a Tadawul statement, the company reported a net profit of SR97.6 million in the first quarter of 2025, marking a 37 percent increase compared to the same period in 2024. The growth was primarily driven by an SR18.3 million rise in revenue year on year. Saudi Ground Services Co. ended the session at SR49.00, down 1.53 percent. Saudi Chemical Co. has announced its consolidated financial results for the first quarter of 2025. A bourse filing showed the company reported a net profit of SR82.33 million for the period ending March 31, reflecting a 9.9 percent decline compared to the same quarter last year. The decrease was attributed to higher finance costs, the revaluation of derivative financial instruments related to interest rate exposure, and an increase in zakat and tax provisions. Saudi Chemical Co. ended the session at SR8.95, down 6.47 percent. Dallah Healthcare Co. has announced its interim financial results for the period ending March 31. According to a Tadawul statement, the company reported a net profit of SR155.56 million in the first quarter of 2025, marking a 30.3 percent increase compared to the same period a year earlier. The rise in profit was driven by higher revenues, along with non-recurring gains of SR51 million resulting from the company's 33.33 percent stake in a real estate fund through an in-kind contribution of land. Dallah Healthcare Co. ended the session at SR120, up 0.17 percent. Tamkeen Human Resource Co. has announced its consolidated financial results for the first quarter of 2025. A bourse filing revealed the company recorded a net profit of SR26 million for the period ending March 31, representing a 40.54 percent increase compared to the same quarter last year. The surge in earnings was attributed to growth in the group's revenues, gross profit, and operating profit. Tamkeen Human Resource Co. ended the session at SR55.30, up 3.61 percent. Umm Al Qura for Development and Construction Co. has announced its consolidated financial results for the first quarter of 2025. A bourse filing showed the company posted a net profit of SR159.6 million for the period ending March 31, reflecting a staggering 3,219.3 percent increase compared to the same quarter a year earlier. The sharp rise in profit was primarily driven by a significant surge in revenues. Umm Al Qura for Development and Construction Co. ended the session at SR24.26, up 0.34 percent. Taiba Investments Co. has announced its interim financial results for the period ending March 31. According to a statement on Tadawul, the company reported a net profit of SR131.3 million in the first quarter of 2025, marking a 36.6 percent increase compared to the same quarter last year. This growth is mainly attributed to the rise in operating revenues during the first quarter of 2025. Taiba Investments Co. ended the session at SR43.25, up 1.5 percent.
Zawya
05-05-2025
- Business
- Zawya
Saudi: SHL Finance's profits leap to $4mln in Q1-25
Riyadh – SHL Finance Company achieved net profits valued at SAR 14.08 million in the first quarter (Q1) of 2025, higher by 205.288% year-on-year (YoY) than SAR 4.61 million. The company's assets grew by 1.88% to SAR 4.51 billion in Q1-25 from SAR 4.24 billion a year earlier, according to the financial results. SHL Finance reported investments amounting to SAR 893,000 in the first three months (3M) of 2025. Earnings per share (EPS) amounted to SAR 0.14 as of 31 March 2025, versus SAR 0.04 in Q1-24. Quarterly, the Q1-25 net profits hiked by 11.43% from SAR 12.64 million in Q4-24. In 2024, the Saudi group recorded 1,040% YoY higher net profits at SAR 26.52 million, compared to SAR 2.32 million. Source: Mubasher
Zawya
03-04-2025
- Business
- Zawya
SHL Finance renews $509mln Sharia-compliant deal with Saudi's ANB
Riyadh – SHL Finance Company has renewed its SAR 1.91 billion Sharia-compliant credit facilities agreement with Arab National Bank (ANB) for five years, according to a bourse disclosure. The funding, which was obtained on 23 March 2025, aims to support SHL Finance's expansion strategy and boost sales volume, aligning with the company's long-term growth vision. The facilities agreement is secured by a promissory note for the full amount of the funding, in addition to an assignment of receivables covering 105% of the outstanding balance of the facilities. It is worth noting that in 2024, SHL Finance reported a 1,040.50% annual jump in net profit after Zakat and income tax to SAR 26.52 million from SAR 2.32 million. On the other hand, ANB recorded a net profit of SAR 4.96 billion in 2024, reflecting a 21.98% year-on-year (YoY) increase from SAR 4.07 billion. Source: Mubasher
