Here are a few things you need to know as Saudi stocks start trading on Sunday.
1) Saudi Kayan Petrochemical Co.’s (Saudi Kayan) net loss after Zakat and tax widened to SAR 784.7 million for the fiscal year 2020.
2) stc reported net profit after Zakat and tax of SAR 11.085 billion for FY2020, rising 4% year-on-year (YoY).
3) Saudia Dairy & Foodstuff Company (SADAFCO) reported a net profit after Zakat and tax of SAR 205 million for the first nine-month period ended Dec. 31, 2020, a rise of 7% YoY.
4) Saudi Basic Industries Corp. (SABIC) and Plastic Energy Ltd. announced plans to commence construction on the first commercial unit to produce its flagship certified circular polymers.
5) The National Shipping Company of Saudi Arabia’s (Bahri) subsidiary, National Chemical Carriers Co., inked a SAR 1.23 billion Murabaha financing agreement with Samba Financial Group.
6) SABIC Agri-Nutrients Co. reported a net profit after Zakat and tax of SAR 1.29 billion for the fiscal year 2020, a 12% decline YoY.
7) Herfy Food Services Co. reported an estimated net profit after Zakat and tax of SAR 53.6 million for the fiscal year 2020, a slump of 73% YoY.
8) Basic Chemical Industries Co. accepted the resignation of chief executive officer Osama Farouk Abdulhamid, effective Jan. 20, 2021.
9) Brent crude on Friday declined 69 cents to reach $55.41 per barrel. WTI crude also decreased 86 cents to reach $52.27/bbl.
