10 things to consider as Tadawul starts trading

Here are a few things you need to know as Saudi stocks start trading on Monday.

1) Savola Group reported a net loss of SAR 37.5 million in Q4 2017, an improvement by 96 percent year-on-year (YoY) thanks to higher gross profit margins and income from associates along with a decline in operating expenses, impairment losses and net financing costs.

2) Herfy Food Services Co. said its fourth-quarter net profit for 2017 fell 14 percent YoY to SAR 47.9 million.

3) Etihad Atheeb Telecommunication Co. (Atheeb Telecom) narrowed losses for Q3 2017-18 by 41 percent YoY to SAR 32.9 million, driven by higher income and lower operating expenses.

4) Al Tayyar Travel Group Holding Co. (Al Tayyar) reported a net profit of SAR 497 million for fiscal year 2017, down 39 percent YoY.

5) Fawaz Alhokair’s Egypt-based subsidiary, Marakez for Real Estate Investment Co., has signed a SAR 14.9 million contract to build the first phase of Aeon Compound in Egypt.

6) Saudi Marketing Co. (Farm Superstores) has opened a new store in Riyadh, bringing the total number of the company’s branches in the Kingdom to 74.

7) Saudi Co. for Hardware’s (SACO) board has recommended a 15 percent cash dividend (SAR 1.5 per share) for the second half of 2017 amounting to SAR 36 million.

8) Saudi Ceramic Co.’s board of directors has recommended a 20 percent capital increase, from SAR 500 million to SAR 600 million, through the issue of one bonus share for every five shares held.

9) Al Jouf Cement has signed a memorandum of understanding (MoU) with Amman-based Jordan Housing Developers Association to export cement for the members of the association.

10) Crude oil prices recovered slightly on Monday, after closing last week sharply lower. Brent crude was last trading up 0.9 percent at $63.34/bbl while WTI crude was higher by 1.1 percent at $59.84/bbl.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com