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Saudi Firms Announce Q4 2018 Results

Saudi Firms Announce Q4 2018 Results

Tuesday, 22 January, 2019 - 10:15
Investors talk as they monitor screens displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh. REUTERS/Faisal Al Nasser
Riyadh - Shujaa al-Bogmi
The Tadawul All Share Index ended 0.2 percent higher Monday, closing at 8,402 points – a rise of 19 points amid trading value worth around SAR3.7 billion (USD986.6 million). Also, the market value rose to SAR1.99 trillion (USD530 billion) – a very close value to the record rate during a whole year.

The strong gains of Tadawul All Share Index boost investors’ confidence in the capital market trading and the capability of Saudi listed companies to achieve better profits in 2019.

Saudi firms started announcing fiscal results of Q4 2018, in which 10 listed companies have announced their results so far – these outcomes revealed a profits growth of 30 percent compared to the same period in 2017.

Fiscal results show profits’ growth of 809.5 percent at Safco, 61.7 percent at Aldrees Company, 49.6 percent at Saudi Kayan Petrochemical Company, and 42 percent at National Company for Education & Learning while profits of Almarai dropped 27 percent.

The rest of the Saudi firms are expected to reveal their fiscal results in the coming days, amid expectations that Q4 profits of 2018 would be better compared to the same period in 2017.

The Saudi capital market witnessed in 2018 listing two companies in the main market and one in Nomu - Parallel Market.

Greater listing operations are anticipated n 2019.

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