Arab News, Saturday, May 13, 2023 | Shawwal 23, 1444
Closing bell: TASI rises 99.6 points as trading volume touches $1.64bn
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index
gained 99.6 points, or 0.88 percent, to finish at 11,392.78 on Thursday, as 155
of the 224 stocks closed in the green and 54 in the red.
While the parallel market Nomu edged up 0.53
percent to close at 21,263.79, the MSCI Tadawul Index dropped slightly by 0.03
percent to close at 1,520.50.
The total trading turnover of the benchmark index
on Thursday was SR6.16 billion ($1.64 billion).
Tihama Advertising and Public Relations Co. was
the top gainer of the day, as its share price soared 8.09 percent to SR19.50.
Savola Group and Etihad Etisalat Co. also saw
gains, with their respective share prices rising by 4.67 percent and 4.45
percent.
The worst performer was Salama Cooperative
Insurance Co., which dropped 3.15 percent to SR21.24.
On the announcements front, Etihad Etisalat Co,
also known as Mobily, reported a 45.77 percent increase in net profit to SR465
million during the first quarter of 2023 from SR319 million in the year-ago
period.
The company also reported a 6.3 percent increase
in revenues to SR4.05 billion between January and March of 2023 from SR3.81
billion during the same period last year.
The increase in Mobily’s revenue was mainly driven
by growth in the business and consumer segments. Its share price closed higher
at SR46.90.
In a statement to Tadawul, Halwani Bros. Co. also
reported a sharp decline in net profit to SR1.64 million in the first quarter of
2023, down 91.65 percent from SR19.65 million in the same period last year.
Its revenues declined 15.36 percent to SR255.22
million from SR301.53 million during the period under review.
According to the announcement, the reasons for the
decline in performance included a rise in interest rates, raw material inflation
and the devaluation of the Egyptian pound. Its share price slipped marginally to
SR57.8.
National Gas and Industrialization Co. reported
that its first quarter of 2033 revenues reached SR614.90 million, up 18.89
percent from SR517.20 earned in the year-ago period.
The company accrued a gross profit of SR90.3
million, up 19 percent compared to SR75.6 million during the period under
review. Its share price advanced 1.5 percent to SR61.