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RIYADH: With earnings season approaching for the Kingdom’s listed companies and as oil prices dipped, Saudi stocks closed Wednesday’s trading session down.
TASI lost 0.48 percent to 13,038 points, reversing three days of gains, while the parallel market, Nomu, shed 0.34 percent to 24,942.
In tandem with the Saudi index, most stock exchanges in the GCC slipped, including Abu Dhabi, Qatar and Bahrain.
However, stock indexes of Dubai, Oman and Bahrain edged up between 0.2 and 0.4 percent.
Oil prices extended losses on Thursday with Brent crude oil reaching $107.98 a barrel and US benchmark WTI trading at $101.94 at 6:50 a.m. Saudi time.
Stock news
Saudi Chemical Co. Holding formed a joint venture with German full-service provider Hellmann Worldwide Logistics as it bids to scale up operations.
Middle East Healthcare Co. saw its profit drop by 79 percent to SR17.2 million ($4.58 million) in 2021
Saudi Industrial Export Co., known as Sadirat, widened its losses by 13 percent to SR14.9 million in 2021
Scientific & Medical Equipment House Co. reported a 3 percent annual increase in profit to SR76 million
Fesh Fash Snack Food Production Co.’s profit dropped by 64 percent to SR1.4 million during 2021
Saudi Cable Co. said it couldn’t publish its 2021 financial results on time due to a failure to complete some of its audit requirements
Profits of Group Five Pipe Saudi Co. fell by 58 percent year-on-year to SR35 million
Arriyadh Development Co.’s subsidiary has completed the sale of land worth SR250 million, from which it expects a positive impact of SR81 million on profit
SEDCO Capital REIT Fund will distribute dividends of SR0.17 per unit for the first quarter of the current year
National Gypsum Co.’s board proposed the distribution of SR1 per share as cash dividends for 2021 even as profit dropped
Al Gassim Investment Holding Co. turned from losses into profits of SR1.09 million in 2021
Al Masane Al Kobra Mining Co. recorded a 122 percent profit hike to SR197 million in 2021, after making a strong debut on Saudi Arabia’s main stock index a day earlier
Saudi Research and Media Group more than doubled profits to SR537 million during 2021
United International Transportation Co.’s board proposed half-year dividends of SR1.3 per share after posting higher profits of SR220 million in 2021
Profits of Shatirah House Restaurant Co. dipped by 19 percent to SR15.4 million in 2021
Shatirah House Restaurant Co.’s board recommended boosting capital from SR25 million to SR35 million by issuing bonus shares
Basic Chemical Industries Co.’s annual profit soared 12.8 percent to SR57.7 million on the back of higher revenue
Tourism Enterprise Co., better known as Shams, widened losses by 71 percent to SR14 million during 2021
Following a sharp decline in profit to SR20.7 million in 2021, Saudi Marketing Co.’s board recommended a dividend freeze for 2021
Raydan Food Co. managed to narrow losses from SR117 million to SR42 million in 2021 as sales rose. The firm said its accumulated losses have reached 46.7 percent of capital
Naseej International Trading Co. slightly widened losses by 2.5 percent to SR.85.5 million in 2021. As a result, the company’s board proposed a capital reduction of 48.5 percent to SR109 million to amortize accumulated losses
National Metal Manufacturing and Casting Co., known as Maadaniyah, trimmed 2021 losses by 28.6 percent to SR29 million
Saudi Parts Center Co. posted a profit decline of 42.8 percent on an annual basis to SR5.7 million
Calendar
March 31, 2022
End of 2021 earnings season
Saudi Aramco will pay out a cash dividend of SR0.36 per share for the fourth quarter of 2021
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