Shares in Saudi Tadawul gain despite a decline in profits

Arab News
The company reported lower profits yesterday, dropping 21 percent to SR141 million in the first quarter
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  • At the closing bell, the stock price slightly retreated to SR208.60

RIYADH: Saudi Tadawul Group’s stock gained in the afternoon trading session on Monday, despite the company posting lower first-quarter profit yesterday.

As of 2:04 p.m. Saudi time, the Kingdom’s bourse operator had seen its shares rise 3.15 percent to SR209.80 ($56), up from SR203.2 at the previous close.

At the closing bell, the stock price slightly retreated to SR208.60.

The company reported lower profits yesterday, dropping 21 percent to SR141 million in the first quarter, from SR180 million for the same quarter last year.

Topics: economy Saudi Arabia Tadawul TASI NOMU earnings