Profits of Industrial Investment Companies Jump 57% in Saudi Arabia

Industrial investment companies, whose shares are listed in the Saudi exchange market, achieved a remarkable leap on the level of profits during the first half of 2018 compared to the same period in 2017.

According to results, profits of industrial investment companies grew 57 percent while the accumulated profits of 16 listed companies reached around SAR1.46 billion (USD390 million).

Maaden achieved during the first half of the year profits of SAR1.15 billion (USD306.6 million); an 83 percent of growth compared to the same period in 2017.

A total number of 10 listed companies in the industrial investment sector reached a remarkable progress in the outcome of the first half of 2018, while profits of six other companies dropped.

A report by Qawaem in 2017 revealed that the growth included the revenues of refined oil products industry, chemical products industry, industry sector, education sector, fishing sector, medicines and pharmacies, health sector, food products sector, and the sector of media and publishing.

It is obligatory that all institutions of the private sector provide Qawaem with financial lists of 2017, within a determined period after the end of the fiscal year.

The Saudi economy has achieved a positive growth in the first quarter of the current year, which is a direct impact of the economic reforms' efficiency.

According to General Authority for Statistics, the domestic product of non-oil sector in Saudi Arabia achieved more positive growth averages during the first quarter of the current year, a growth of 1.6 percent, while the public non-oil sector growth reached around 2.7 percent during the same period.