9 things to consider as Tadawul starts trading

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

1) Savola Group reported a net profit of SAR 56.3 million for H1 2018, a 76 percent year-on-year (YoY) drop that was attributed to lower gross profit on lower sales and margins in the retail sector.

2) Dur Hospitality’s net profit declined 43 percent YoY to SAR 32 million in H1 2018, hurt by lower revenue from properties in Riyadh.

3) Al Ahlia for Cooperative Insurance Co. reported a net profit of SAR 10.87 million for H1 2018 –more than double compared to the same period last year.

4) Saudi Arabian Mining Company (Maaden) is seeking to strengthen its presence in the base metals market through global acquisitions, Bloomberg TV reported, citing acting CEO Darren Davis.

5) Halwani Bros Co. will not increase the prices of its products in the local market, chief executive Saleh Al Hefni told Argaam.

6) Saudi Company for Hardware (SACO) has taken measures to reduce general and administrative expenses in Q2 2018, and is continuing to maintain last year’s expense levels, CEO Sameer Al-Hamidi told Argaam.

7) Al Rajhi Bank has signed a cooperation agreement with Kafalah Fund, a financing program for small and medium enterprises (SMEs), to provide a wider range of benefits to SMEs.

8) Saudi Real Estate Company (Al Akaria) has announced its plans for a 7 million square meter mixed-use development project, called Al Wedyan, in Riyadh.

9) Saudi Electricity Co. (SEC) has launched operations at seven electric transmission stations in the Northern Borders Region with a total capacity of 3613 MVA, and a total cost of SAR 2.1 billion.

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