Asharq Al-awsat English https://aawsat.com/english Middle-east and International News and Opinion from Asharq Al-awsat Newspaper http://feedly.com/icon.svg

Saudi Companies to Conclude Announcing Financial Results on Monday

Saudi Companies to Conclude Announcing Financial Results on Monday

Sunday, 10 November, 2019 - 11:15
An investor walks past a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia June 29, 2016. (Reuters)

Saudi companies will conclude on Monday the announcement period of their financial results for the Q3 2019.


These results are complementary to the first nine months of this year.


Meanwhile, 132 listed Saudi companies have already announced their financial results.


Seventy-one companies listed in the Saudi stock market have made remarkable positive progress in their financial results during the first nine months of 2019, compared to the same period in 2018.


The 132 companies made a net profit of SAR64.2 billion ($17.12 billion) during the first nine months of 2019, an average profit that was no better than that during the same period last year.


The 42 companies that have not yet announced their results are expected to play a major role in terms of the number of companies that may achieve better financial performance during the first nine months of this year, compared to the same period last year.


However, these results are not expected to have a significant impact on the value of profits realized, considering that most companies with large capital had announced their financial results earlier.


Cement sector companies are among the best performers, as the profits jumped 399 percent, compared to the figures achieved during the same period last year.


All companies have made a net profit during the first nine months of this year while seven had suffered losses during the same period last year.


This demonstrates the vitality of the Saudi economy and the revival of the construction sector.


Insurance companies are expected to disclose their financial results on Sunday and Monday.


Investors and traders in this sector have been awaiting the announcement of 17 companies for their financial results for the third quarter of this year.


Editor Picks

Multimedia