The combined net profit of Saudi brokerage firms fell 58 percent year-on-year (YoY) to SAR 204.1 million in Q2 2017, a recent report of the Capital Market Authority (CMA) showed.
The profit decline came as revenue dropped by 32 percent YoY to SAR 984.9 million in the same period.
Data showed that the number of authorized brokerage firms operating in the Kingdom decreased to 82 from 84 in Q2 2016.
|
Income Statement (SAR mln) |
|||
|
Period |
Q2 2016 |
Q2 2017 |
Variation |
|
Revenue |
1,456.9 |
984.9 |
(32%) |
|
Operating expenses |
937.7 |
797.6 |
(15%) |
|
Operating income |
519.2 |
187.4 |
(64%) |
|
Other revenue |
5.9 |
23.6 |
+301% |
|
Minority interest profit/loss |
16.1 |
(12.0) |
-- |
|
Net income |
486.0 |
204.1 |
(58%) |
Combined assets decreased 5 percent on a YoY basis to SAR 27.2 billion.
Shareholders’ equity slipped 2 percent YoY to SAR 21.3 billion in Q2 2017.
|
Balance Sheet (SAR mln) |
|||
|
Period |
Q2 2016 |
Q2 2017 |
Variation |
|
Assets |
28,611.6 |
27,174.8 |
(5%) |
|
Liabilities |
6,614.9 |
5,844.6 |
(12%) |
|
Capital |
16,073.2 |
15,610.7 |
(3%) |
|
Shareholders’ equity |
21,661.5 |
21,255.8 |
(2%) |
Brokerage firms completed around SAR 379.2 billion worth of transactions during the second quarter, a 41 percent YoY decline.
Their transactions accounted for 97.6 percent of total trading activity on the Saudi market.
|
Trading Value by Region (SAR mln) |
||
|
Region |
Trading value |
Percentage of total |
|
Local market |
369,922 |
97.55% |
|
GCC |
789 |
0.21% |
|
Arab countries |
60 |
0.02% |
|
Asia |
1 |
0.00% |
|
US |
7,715 |
2.03% |
|
Europe |
491 |
0.13% |
|
Other |
233 |
0.06% |
|
Total |
379,211 |
100.00% |
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