10 things to watch on Tadawul today

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

1) Saudi Cement Co. posted a 12.2 percent rise year-on-year (YoY) in net profit after zakat and tax to SAR 224.8 million for H1 2019, backed by higher sales and profit share from associates.

2) Riyad Bank reported a net profit of SAR 2.98 billion for H1 2019, a jump of 69.7 percent year-on-year (YoY) due to higher operating income.

3) Al Rajhi Bank reported a net profit of SAR 5.2 billion for H1 2019, a rise of 8.3 percent year-on-year (YoY) due to higher operating income and lower benefits granted to employees.

4) Dar Al Arkan Real Estate Development Co. posted a net profit after zakat and tax of SAR 100.5 million for H1 2019, a plunge of 77.2 percent year-on-year (YoY) due to lower property sales.

5) Samba Financial Group’s board of directors has recommended a 7.2 percent cash dividend for the first half of 2019, at SAR 0.72 per share, amounting to SAR 1.43 billion.

6) Al-Jouf Agricultural Development Co.’s board of director recommended paying cash dividend at 5 percent, or SAR 0.50 a share, for H1 2019.

7) Abdulmohsen Alhokair Group for Tourism and Development Co. (Al Hokair Group) reported net losses after zakat and tax of SAR 31.44 million for H1 2019, compared to net losses of SAR 4.42 million in a year-earlier period.

8) Saudi Cable Co. narrowed net losses by 57.26 percent year-on-year (YoY) to SAR 50.4 million for H1 2019, due to lower operating expenses, and decreased loss share from associates.

9) Northern Region Cement Co. reported a net profit after zakat and tax of SAR 29.6 million for H1 2019, against a net loss of SAR 5.2 million a year earlier. 

10) Brent crude on Wednesday gained 56 cents to reach $65.28/bbl, while WTI crude also increased 37 cents to reach $58.42/bbl.