Arab News
Arab news, Wed, May 07, 2025 | Dhu al-Qadah 9, 1446
Closing Bell: Saudi main index closes in green at 11,434
Saudi Arabia:
Saudi Arabia’s Tadawul All Share Index
extended its upward momentum for a second straight day, gaining 11.13 points, or
0.10 percent, to close at 11,434.08 on Tuesday.
The benchmark index recorded a total trading
turnover of SR4.51 billion ($1.20 billion), with 83 stocks advancing and 152
declining.
Saudi Arabia’s parallel market Nomu, however,
dropped 190.20 points to close at 27,952.79.
The MSCI Tadawul Index edged up 0.16 percent to
1,457.72.
The top performer on the main market was Fawaz
Abdulaziz Alhokair Co., also known as Cenomi Retail, which saw its share price
surge 9.87 percent to SR15.58.
Shares of Bupa Arabia for Cooperative Insurance
Co. rose 3.59 percent to SR178.80, while Saudi Ceramic Co. gained 3.17 percent
to reach SR29.30.
Al-Etihad Cooperative Insurance Co. recorded the
biggest decline of the day, with its share price slipping 7.69 percent to
SR13.92.
On the announcements front, United Electronics
Co., also known as EXTRA, reported a net profit of SR103.44 million for the
first quarter of 2025, marking a 10.2 percent increase compared to the same
period last year.
In a Tadawul filing, the company attributed the
rise to growth in its retail and consumer finance segments. EXTRA’s share price
rose 0.11 percent to SR90.90.
United International Holding Co. posted a net
profit of SR57.81 million for the first quarter of 2025, up 10.42 percent year
on year. The company said the increase was driven by a 25.3 percent rise in
revenues, which reached SR174.65 million, compared to SR139.43 million in the
same period last year. Its share price rose 0.59 percent to SR171.40.
Saudi Printing and Packaging Co. widened its net
loss to SR24.4 million in the first quarter of 2025, compared to SR22.62 million
a year earlier. The company blamed the deeper loss on lower revenues from its
printing and packaging divisions. Shares dropped 2.83 percent to SR12.34.
Al-Etihad Cooperative Insurance Co. reported a net
loss of SR11.91 million for the first quarter, reversing from a net profit of
SR2.66 million in the year-earlier period. The insurer cited reduced revenue and
a decline in gross earned premiums in the motor and medical segments as key
reasons for the swing. Its stock closed down 7.69 percent at SR13.92.
Almoosa Health Co. announced a net profit
of SR51.1 million for the first quarter of 2025, a surge of 272.99 percent year
on year. The company said the sharp increase was driven by higher patient
volumes and improved inpatient occupancy. Shares advanced 3.09 percent to SR167.
Saudi Arabian Mining Co., also known as Ma’aden,
reported a net profit of SR1.54 billion for the first quarter of 2025,
reflecting a sharp 57.88 percent increase compared to the same period in 2024.
In a statement to Tadawul, the mining giant
attributed the profit growth to higher commodity prices across all its product
lines.
The company’s revenue for the quarter reached
SR8.51 billion, marking a 15.82 percent year-on-year rise.
“We are off to a great start in 2025. We are
building on the momentum of last year and continuing our progress across all
operations, with strong production results, safety improvements, exploration
success, project advancement and portfolio consolidation,” said Robert Wilt, CEO
of Ma’aden.
He added: “Looking ahead our strong financial
position and focus on operational excellence positions us well to navigate the
current market uncertainty. We will continue to drive value for our shareholders
and develop mining as the third pillar of the Saudi economy.”