10 things to consider as Tadawul starts trading

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

1) Hail Cement Co. reported a net profit of SAR 4 million for Q4 2017, down 81 percent year-on- year (YoY) amid tough competition and declining prices.

2) National Medical Care Co. (Care) swung to a net profit of SAR 30.7 million in Q4 2017, from a loss of nearly SAR 70 million in Q4 last year due to higher revenues and lower costs.

3) Jarir Marketing Co. (Jarir) reported a net profit of SAR 867.6 million for fiscal year 2017, up 18 percent YoY due to higher sales and lower non-operating expenses.

4) Saudi International Petrochemical Co. (Sipchem) said its net profit for Q4 2017 rose to SAR 164.4 million from SAR 31.9 million in the same quarter last year.

5) Saudi Public Transport Co.’s (SAPTCO) board of directors has recommended a 5 percent cash dividend (SAR 0.5 per share) for fiscal year 2017, amounting to SAR 62.5 million.

6) Etihad Atheeb Telecommunications Co.’s shareholders will vote on a 25 percent capital cut to offset losses in an extraordinary general assembly meeting on February 13.

7) Saudi Arabian Monetary Authority (SAMA) has banned Allianz Saudi Fransi Cooperative Insurance Co. (Allianz SF) from issuing new motor insurance policies or renewing current ones, effective January 29.

8) Jadwa REIT Saudi Fund’s (Jadwa REIT Saudi) initial public offering (IPO) has been 120.9 percent complete after 57,639 subscribers injected SAR 573 million in cash.

9) Saudi Labor and Social Development Ministry has issued a directive limiting 12 jobs at various shops to Saudi nationals, starting from the new Hijri year.

10) Oil prices edged lower on Tuesday, with Brent crude last trading down 0.7 percent at $68.97/bbl, and WTI crude fell 1.1 percent to $64.86/bbl. 

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com