SISCO posts 69% lower profits in 9M-22 interim results
Saudi Industrial Services Company (SISCO) generated SAR 18.30 million in net profit after Zakat and tax during the first nine months (9M) of 2022, lower by 68.82% than SAR 58.70 million in 9M-21. Revenues amounted to SAR 717 million in the January-September 2022 period, an annual drop of 2.28% from SAR 733.70 million, […]
Saudi: Walaa Cooperative Insurance’s losses shrink in 9M-22; accumulated losses announced
The net losses before Zakat of Walaa Cooperative Insurance Company reached SAR 43.84 million in the first nine months (9M) of 2022, down 5.59% from SAR 46.43 million in 9M-21. The loss per share settled at SAR 0.80 in the January-September 2022 period, compared to SAR 0.89 in 9M-21, according to the interim […]
Aldawaa Medical Services logs nearly $57.6mln profits in 9M-22
Aldawaa Medical Services Company generated net profits after Zakat and tax worth SAR 215.93 million in the first nine months (9M) of 2022, an increase of 26.97% from SAR 170.07 million in 9M-21. The firm registered revenues worth SAR 3.91 billion in the January-September 2022 period, up 4.76% year-on-year (YoY) from SAR […]
Astra Industrial’s profits exceed $103.6mln in 9M-22 interim financial
Astra Industrial Group’s net profits after Zakat and tax amounted to SAR 388.65 million in the first nine months (9M) of 2022, higher by 158.10% than SAR 150.57 million in 9M-21. Revenues jumped by 7.21% year-on-year (YoY) to SAR 1.86 billion in the January-September 2022 period, versus SAR 1.73 billion, according to the […]
Saudi’s Zain KSA posts 41% rise in Q3 net profit
Saudi-listed Mobile Telecommunication Company Saudi Arabia (Zain KSA) saw its net profit jump by more than 40% in the third quarter of the year on the back of higher visitor traffic and revenue from B2B and 5G operations. Net profit for the quarter reached SAR85 million ($22.6 million), up by 41.67% from a year ago. […]
Saudi bank lending could take a hit in 2023 without liquidity support
Saudi banks are likely to require further central bank liquidity injections after interbank spreads rose sharply in October and as lending growth continues to outpace deposit growth, Fitch Ratings said in a new report. Sector loans increased by 12.5% in nine-month 2022, compared with 8% for deposits, loans/deposits ratio (LDR) for Saudi banks collectively to […]
Saudi Printing registers $1.6mln losses in 9M-22 : accumulated losses unveiled
Saudi Printing and Packaging Company incurred net losses after Zakat and tax worth SAR 6.24 million in the first nine months (9M) of 2022, an annual plunge of 86.63% from SAR 46.66 million. Revenues jumped by 34.41% year-on-year (YoY) to SAR 767.81 million during the January-September 2022 period, compared to SAR 571.25 million, […]
Saudi Al Hokair launches entertainment centre Playocity
Saudi Arabia’s Al Hokair Group for Tourism and Development, has entered a licensed agreement with Hasbro, a leader in branded entertainment, bring Playocity, a first-of-its-kind entertainment centre, to the Kingdom. The first two Playocity sites will open soon, encompassing 6,000 sq ft across both sites to offer spectacular fun for everyone, and Al Hokair Group […]
Middle East KFC, Pizza Hut operator Americana to float 30% stake
Restaurant operator Americana Restaurants International on Wednesday announced its intention to float 30% of share capital and to list its shares on the Abu Dhabi Securities Exchange (ADX) and the Saudi Stock Exchange (Tadawul) through a concurrent dual listing process. Adeptio Investments AD Ltd. will sell 2,527,089,930 existing ordinary shares of Americana Restaurants, the operator […]
Saudi’s NEOM appoints Independent Safety Assessor for THE LINE urban development project
Saudi mega project NEOM has appointed French construction engineering and mobility consultancy Egis, its subsidiary AuditSafe, and Certifer to act as the Independent Safety Assessor (ISA) for the railway system in THE LINE and the NEOM Industrial City Connector (NICC). The NICC will comprise of several individual lines: high speed rail lines, freight rail lines, […]