[ad_1]
RIYADH: Saudi Arabia’s Tadawul All Share Index continued its downward motion for the second consecutive day because it shed 97.05 factors, or 0.82 %, to shut at 11,692.33 on Monday.
The overall buying and selling turnover of the benchmark index was SR5.91 billion ($1.58 billion) as 73 of the listed 228 shares declined, whereas 143 superior.
Saudi Arabia’s parallel market Nomu additionally witnessed a downward pattern because it slipped by 555.54 factors to 24,500.64.
The MSCI Tadawul Index dropped by 1.33 % to shut at 1,534.80.
One of the best-performing inventory of the day was Arabian Drilling. The corporate’s share worth soared by 7.17 % to SR176.40.
Different prime performers of the day have been Maharah Human Sources Co. and Almunajem Meals Co. whose share costs edged up by 4.75 % and 4.32 %, respectively.
The worst performer was Takween Superior Industries Co. as its share worth dropped by 6.75 % to SR17.12.
On the bulletins entrance, First Milling Co. reported its interim monetary outcomes for the primary half of this 12 months. In a Tadawul assertion, the corporate revealed that its internet revenue narrowed within the first half of 2023 to SR108.7 million, down 19 %, in comparison with SR133.7 million in the identical interval of the earlier 12 months.
The agency’s internet revenue for the second quarter dipped by 43 % to SR34.9 million within the second quarter of 2022.
“Whereas we acknowledge the challenges to internet revenue within the second quarter of 2023, we consider we have now the appropriate technique and execution plan in place to ship on our key initiatives — such because the PESA Mill, the Pre-Combine Plant, Durum Mill, and Mill C enlargement within the Jeddah Plant — which we collectively count on to extend our capability, enhance our product selection, and have a constructive long run monetary affect,” mentioned Abdullah Ababtain, CEO of First Milling Co., also referred to as First Mills.
Pushed by the decline in internet revenue, First Milling Co.’s share worth fell by 2.84 % to SR88.90.
One other firm which introduced its monetary outcomes was Leejam Sports activities Co. The agency reported a 64.76 % rise in internet revenue to SR135.1 million, in comparison with SR82 million in the identical interval a 12 months in the past.
In a Tadawul assertion, it attributed the rise to a rise in subscriptions and membership revenues, which soared by 26 % within the first half of the 12 months. The corporate’s share worth edged up by 2.36 % to SR147.40.
Saudi Paper Manufacturing Co. reported a decline in internet revenue within the first half to SR29.69 million, down 13.59 % in comparison with SR34.36 million in the identical interval of 2022. On Monday, the agency’s share costs dropped by 0.91 % to SR32.50.
One other firm which introduced its monetary outcomes was Methanol Chemical compounds Co., also referred to as Chemanol. The corporate reported a internet lack of SR59.03 million within the first half in opposition to a internet revenue of SR194.83 million in the identical interval of the earlier 12 months.
In a Tadawul assertion, Chemanol mentioned that it was loss in the course of the first half of 2022 attributable to a decline within the common promoting costs of the corporate’s merchandise, together with the slowdown in demand for sure merchandise in the course of the present interval. The corporate’s share worth edged down by 1.21 % to SR24.48.
[ad_2]
Source link
