https://arab.news/met9q
- MSCI Tadawul Index increased by 5.51 points, or 0.37%, closing at 1,512.82
- Parallel market Nomu gained 72.27 points, or 0.27%, to close at 27,297.45
RIYADH: Saudi Arabia’s Tadawul All Share Index started the week in green, gaining 26.15 points, or 0.22 percent, to close at 12,048.26.
The total trading value of the benchmark index was SR4.2 billion ($1.1 billion), with 82 listed stocks advancing, while 147 retreated.
The MSCI Tadawul Index also increased by 5.51 points, or 0.37 percent, closing at 1,512.82.
The Kingdom’s parallel market Nomu gained 72.27 points, or 0.27 percent, to close at 27,297.45, with 38 stocks advancing and 35 retreating.
The best-performing stock of the day was Riyadh Cables Group Co., whose share price surged by 9.98 percent to SR112.40.
Other top performers included MBC Group Co., which saw a rise of 9.98 percent to SR45.75.
Anaam International Holding Group and Al-Baha Investment and Development Co. also recorded gains of 8 percent and 7.69 percent, closing at SR1.35 and SR0.28, respectively.
Rabigh Refining and Petrochemical Co. was also among the top performers with SR8.61, recording a 5.51 percent increase.
Quara Finance Co. announced its nine-month financial results, seeing SR147.1 million in revenue, a 2.3 percent year-on-year increase.
Despite the company’s gains in sales, net profit saw a 28.1 percent yearly decline, recording SR34.5 million in net income.
Quara attributed the revenue increase to a growth in yield of the retail portfolio, while the decrease in profits was due to an increase in write-offs and decrease in write-off recoveries.
Quara closed Sunday’s trading at SR16, a 0.49 percent increase.
Elm Co. also released its financial results for the nine months of the year recording SR5.2 billion in revenue, a 25.2 percent year-on-year increase.
The company’s net profit also saw an increase to reach SR1.3 billion, a 29.1 percent growth.
Elm attributed the revenue growth to a 25.66 percent increase in digital business revenue and a 29.02 percent rise in business process outsourcing revenue, partially offset by a 19.13 percent decline in professional services revenue.
Elm closed Sunday’s trading at SR1,072.20, a 4.85 percent increase.
Tanmiah Food Co. reported a revenue increase of 23.8 percent year on year for the first nine months, reaching SR1.8 billion.
Net profits also increase by 39.3 percent to reach SR69.1 million by the end of the period, driven mainly by fresh poultry.
Tanmiah Food closed Sunday’s trading at SR143, a 4.99 percent increase.
Dr. Sulaiman Al Habib Medical Services Group’s revenue also increased by 14.9 percent in the first nine months of the year compared to the same period last year, to reach SR8 billion.
Net profits grew to reach SR1.7 billion, an 11.8 percent year-on-year increase.
The revenue increase was primarily driven by growth in the hospital and pharmacy segments, fueled by a rise in the number of patients in the hospital sector. The rise in net profits was largely attributed to this revenue growth.
Dr. Sulaiman Al Habib Medical Services Group closed Sunday’s trading at SR288.40, a 0.77 percent increase.
Fragrance company Al Majed Oud Co. reported revenue of SR683.7 million for the first nine months of the year, marking a 25.5 percent increase compared to the same period last year.
Net profits rose to SR141.9 million, a 23.3 percent year-over-year increase. The company attributed the growth in profits and sales to the strong performance of branches opened in 2023, which significantly boosted sales in the current period.
Al Majed Oud Co. closed trading at SR150.60, a 1.05 percent decrease.