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 Arabia has reported budget deficit of SAR 41.69 billion in H1 2018, revenues stood at SAR 439.85 billion while expenses reached SAR 481.54 billion, the finance ministry said on Wednesday.

2) Saudi Arabia's budget results for second quarter 2018 show an improvement in state finances, said Finance Minister Mohammed Al-Jadaan. 

3) Kingdom Holding Co. (KHC) reported a net profit of SAR 385.7 million for H1 2018, a rise of 11.7 percent year-on-year (YoY), thanks to higher hotels and other operating revenue, dividend income and profit share from equity-accounted affiliates.

4) Tabuk Cement reported a net loss of SAR 47.3 million for the first half of 2018, versus a net profit of SAR 9.97 million in H1 2017, on lower selling prices, fierce competition and higher cost of sales.

5) Middle East Healthcare Co. (MEAHCO) reported a net profit of SAR 121.4 million in H1 2018, a 29.4 percent YoY decrease attributed to lower revenue, higher caregivers’ salaries and increased cost of suppliers.

6) Saudi Arabia’s Capital Market Authority (CMA) has approved the price stabilization mechanism draft for initial public offerings (IPOs), it said in a statement.

7) The CMA has approved the amendment of paragraph (C) of Article 5 of procedures and instructions related to listed firms with accumulated losses of 20 percent or more of their capital.

8) Jarir Marketing Co.’s board of directors has recommended an 18 percent cash dividend for the second quarter of 2018, at SAR 1.8 per share, amounting to SAR 162 million.

9) Dur Hospitality Co.’s board of directors has recommended a 2.5 percent cash dividend for the first half of 2018, at SAR 0.25 per share, amounting to SAR 25 million.

10) Southern Province Cement Co.’s board of directors has recommended a 10 percent cash dividend for the first half of 2018, at SAR 1 per share, amounting to SAR 140 million.

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