RIYADH: Saudi Arabia’s Tadawul All Share Index fell 79.36 points — or 0.76 percent — to close at 10,383.82 on Sunday.
MSCI Tadawul 30 Index and the parallel market Nomu closed slightly lower at 1,409.41 and 18,965.30, respectively.
The total trading turnover of the benchmark index was SR3.42 billion ($910 million) as 75 stocks of the listed 224 advanced and 132 retreated.
National Shipping Co. of Saudi Arabia, also known as Bahri, was the topmost performer of the day as its share price shot up 9.93 percent to SR29.90.
Thimar Development Holding Co. was the day’s next best performer as its share price surged 9.87 percent to SR33.40. The stock rose 76 percent in the last seven sessions.
Saudi Ground Services Co., Wafrah for Industry and Development Co. and Jabal Omar Development Co. were the other top performers of the day.
Bank Albilad took the worst hit as its share price fell 3.55 percent to SR38.
The other poor performers of the day included Theeb Rent a Car Co., Riyad Bank and Saudi Arabian Amiantit Co.
On the announcements front, Riyadh Cables Group Co. reported a 47 percent surge in net profit to SAR 351.9 million in 2022 from SR240 million in 2021.
Revenues increased 40 percent to SR6.85 billion from SR4.88 billion, even as earnings per share shot up to SR2.35 from SR1.6 during the week under review.
The company’s board of directors recommended paying a cash dividend of SR1.5 per share, amounting to SR225 million. Its share price fell slightly to SR46.60.
Halwani Bros. Co. reported a 97 percent plunge in net profit to SR2.9 million in 2022 from SR84.3 million in 2021 due to lower sales from its Egyptian subsidiary and as gross profit fell 21 percent year-on-year because of higher raw materials costs. Its share price slipped 2.19 percent to SR53.50.
Alandalus Property Co. posted a 2 percent decline in net profit to SR66.8 million in 2022 from SR68 million in 2021. The decline was attributed to a 48 percent increase in finance costs over the period under review.
The fourth-quarter net profit climbed 29 percent to SR13.5 million in 2022 from SR10.4 million during the same period last year.
The company’s board of directors approved a 2.5 percent cash dividend for the second half of 2022, amounting to SR23.33 million. Its shares closed marginally lower at SR16.80.
Academy of Learning Co. reported a 32 percent increase in net profit to SR21.4 million in 2022 from SR16.2 million a year earlier.
According to a filing to the stock exchange, the profit surged because of a 44 percent climb in the average number of students last year versus the earlier year.
Its revenue increased 48.8 percent to SR62.91 million in 2022 from SR422.28 million. The academy’s share price jumped 1.07 percent to SR42.65.
Saudi Enaya Cooperative Insurance Co. reported a net loss of SR9.3 million in 2022 from SR62 million in the year-ago period.
The insurer, however, turned to a net profit of SR15.2 million in the fourth quarter of 2022 against a loss of SR17.2 million a year earlier. Its share price rose 1.56 percent to SR9.79.
Al Moammar Information Systems Co. said it would pay a cash dividend of SR1.2 a share for the second half of 2022, totaling SR36 million. Its share price fell 1.13 percent to SR105.20.
Batic Investments and Logistics Co.’s net losses widened to SR30.8 million in 2022 from SR9.7 million in 2021, as gross profit fell 11 percent year-on-year due to decreased operating revenues.
