RIYADH: Saudi Arabia's Tadawul All Share Index ended the week's first Sunday trading session with a gain of 149.22 points, or 1.24 percent, to close at 12,175.43.
Total trading turnover for the benchmark index was SR6 billion ($1.6 billion) as 143 stocks advanced while 84 declined.
The Nomu Kingdom's parallel market also rose 82.97 points, or 0.31 percent, to close at 26,502.98. This is because 36 stocks advanced while 34 retreated.
The MSCI Tadawul index gained 22.36 points, or 1.49 percent, to close at 1,524.49.
The best performing stock of the day was Kingdom Holding Co. The company's share price rose 9.95 percent to SR8.95.
Other top performers included Miahona Co. and Saudi Manpower Solutions Co.
The worst performer was Almunajem Foods Co., whose share price fell 4.66 percent to SR98.20.
Sabic Agri-Nutrients Co. announced its interim consolidated financial results for the period ended June 30.
According to a Tadawul statement, the firm's net profit at the end of the first six months of 2024 was SR1.54 billion, down 5.26 percent compared to the corresponding period in 2023.
The decline in net profit included a 6 percent decline in average selling prices, which was limited by a 2 percent increase in volume sold.
Dr. Sulaiman Al-Habib Medical Services Group also announced its interim financial results for the first six months of 2024.
A stock exchange filing revealed that the firm's net profits reached SR1.1 billion in the period ended June 30, reflecting a 13.2 percent increase compared to the first six months of 2023.
The increase in net profit was mainly due to the increase in sales following the increase in the number of patients.
The company also announced the board's decision to distribute dividends of SR 409.5 million in cash to shareholders for the second quarter of 2024.
The total number of shares eligible for dividends reached 350 million, with a dividend per share of SR1.17, according to a separate Tadawul statement.
It also revealed that the percentage of dividends to the par value of the shares was 11.7 percent.
Saudi Arabia National Shipping Co., also known as Bahri, announced its interim financial results for the period ended June 30.
A stock exchange filing revealed that the firm's net profit rose 20 percent year-on-year to SR 1.18 billion in the first six months of 2024. This increase was primarily associated with an increase in gross profit and financial income.
“Bahri had a good first half of this year, delivering commendable operational performance across our divisions,” Bahri CEO Ahmed Ali Al-Subaey said in a statement. “Our success was underpinned by optimized fleet management and route efficiencies, supported by improved market conditions for VLCCs (very large crude carriers) and chemical tankers.”
The Capital Market Authority issued its resolution approving the request of Arabian Contracting Services Co. by increasing the capital from SR 500 million to SR 550 million. This will be done by issuing one bonus share for every 10 owned shareholders registered in the register of the Securities Depository Center as of the close of the second trading day after the maturity date to be determined later by the company's board of directors.
According to the statement, such increase will be paid for by transferring SR 50 million from the “retained earnings” account to the company's capital.
Qualified investors can start subscribing for 750,000 shares of ASG Plastic Factory Co. July 28. The company is ready to list on the parallel market Nomu at a price between SR40 and SR44 per share.
The stakes offered represent 10.64 percent of the post-initial public offering capital of SR 70.5 million or 11.90 percent of the pre-IPO capital, divided into 7.05 million shares with a par value of SR 10 each.
