10 things to consider as Tadawul starts trading

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

1) Saudi Arabian Mining Company (Maaden) swung to net profit of SAR 714.8 million in fiscal year 2017, from a loss of SAR 10.7 million in the previous year.

2) United International Transportation Company Ltd. (Budget Saudi) reported a net profit of SAR 149.5 million for FY 2017, down 12 percent year-on- year (YoY).

3) Al Hammadi Company for Development and Investment (Al Hammadi) has signed a share purchase agreement to acquire 100 percent equity ownership in Medical Support Services Company for SAR 48 million.

4) Savola Group's board of directors has appointed Anees Ahmed Moumina as the company's chief executive officer, effective April 1.

5) Herfy Food Services Co.’s board of directors has recommended an 11 percent cash dividend for the second half of 2017 at SAR 1.1 per share, amounting to SAR 71.15 million.

6) Saudi Industrial Investment Group’s (SIIG) said its two joint venture plants in Jubail Industrial City would be shut for planned periodic maintenance starting February.

7) National Medical Care Co. (Care) said its accounts receivables fell 47.44 percent to SAR 313.53 million in January 2018, compared to SAR 596.58 million at the end of December.

8) Al Sorayai Trading and Industrial Group’s accumulated losses have reached SAR 5.56 million, representing 2.47 percent of capital as of December 31.

9) Muscat Capital’s Al Masha'ar REIT Fund has received a SAR 19.3 million lease income for its constituent units, covering the first half of 2018.

10) Crude oil prices edged higher on Thursday following reports of high compliance by OPEC members to the ongoing output-cut deal. Brent crude was last up 0.2 percent at $69.04/bbl, and WTI crude rose 0.2 percent to $64.87/bbl. 

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