On Monday, the Tadawul All Share Index in Saudi Arabia ended the day unchanged, slipping just 0.26 points to close at 11,256.39. However, the MSCI Tadawul Index experienced a slight increase, rising 1.12 per cent to end at 1,514.66, while the parallel market Nomu decreased by 35.84 points to finish at 21,058.53. The benchmark index had a trading turnover of SR5.57 billion ($1.49 billion) on the day. Notably, Ash-Sharqiyah Development Co. was the best-performing stock, with its share price jumping by 9.91 per cent to SR21.08. Salama Cooperative Insurance Co. and Saudi Co. for Hardware also had a strong showing, with their share prices surging by 9.91 per cent and 6.70 per cent, respectively. On the other hand, Tihama Advertising and Public Relations Co. had the poorest performance of the day, with its share price declining by 10 per cent to SR20.88.
In terms of financial results announcements, Al-Jouf Agricultural Development Co. reported a net profit of SR20.07 million in the first quarter of 2023, up 31.8 per cent from SR15.23 million in the same period of the previous year. The company’s share price increased by 3.09 per cent to SR56.70. Meanwhile, Nama Chemicals Co. reported a net loss of SR18.8 million in the first quarter of 2023, compared to a net profit of SR33.40 million in the same period of the previous year. Despite this loss, the company’s share price rose by 0.14 per cent to SR36.15. Saudi Automotive Services Co. saw its net profit surge by 75.44 per cent in the first quarter to SR14.07 million, while Bawan Co. reported a decline in its net profit by 31.41 per cent to SR34.53 million in the same period. Finally, United Electronics Co. (eXtra) reported a net profit of SR84.44 million for the first quarter of 2023, down 13.40 per cent from SR97.51 million in the same quarter of the previous year, but its share prices still increased by 0.79 per cent to SR77.
In another announcement, Saudi Automotive Services Co. reported a significant increase in net profit in the first quarter of 2023, jumping by 75.44 per cent to SR14.07 million compared to the same period in 2022. However, the company’s share price declined by 2.68 per cent to SR39.90. Finally, Bawan Co. announced that its net profit had declined by 31.41 per cent in the first quarter of 2023, reaching SR34.53 million compared to SR50.34 million in the same period last year.
