10 things to watch on Tadawul today

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

1) Saudi Basic Industries Corp. (SABIC) reported a net profit after Zakat and tax of SAR 6.5 billion for Q1 2022, a rise of 33% year-on-year (YoY).

2) Rabigh Refining and Petrochemical Co. (Petro Rabigh) posted an 12% YoY rise in Q1 2022 net profit after Zakat and tax to SAR 725 million.

3) Al-Dawaa Medical Services Co. (DMSCO) reported a net profit after Zakat and tax of SAR 87.1 million for Q1 2022, up 11% YoY.

4) Al Yamamah Steel Industries Co. reported a net profit after Zakat and tax of SAR 69.2 million for the first half ended May 12, 2022, a 33% drop YoY.

5) Al Yamamah Steel’s board recommended a 7.5% cash dividend, or SAR 0.75 per share, for the first half of the fiscal year ending on Sept. 30, 2022.

6) Southern Province Cement Co. posted a net profit after Zakat and tax of SAR 87 million for Q1 2022, down 49% from SAR 169 million a year before.

7) Saudi Advanced Industries Co. (SAIC) reported a net profit after Zakat and tax of SAR 30.9 million in Q1 2022, an increase of 82% YoY. 

8) Saudi Industrial Export Co. (SIECO) shareholders approved increasing capital from SAR 21.6 million to SAR 194.4 million through a SAR 172.8 million rights issue.

9) Jarir Marketing Co. closed its showroom located on Palestine Street in Jeddah. Jarir expects to lose about SAR 7 million in profit.

10) Brent crude rose 3.82% to reach $111.55 per barrel on Friday. WTI crude gained 4.11% to reach $110.49/bbl.