Here are a few things you need to know as Saudi stocks start trading on Wednesday.
1) Al Hokair Group widened Q1 2019 losses by more than four-fold year-on-year (YoY) to SAR 32.06 million, driven by lower revenue, soft demand and fierce market competition.
2) Northern Region Cement Co. posted net profit after zakat and tax of SAR 15.5 million for Q1 2019, compared to net profit of SAR 1.5 million a year earlier due to higher prices and sales volumes.
3) Halwani Bros. Co. reported a net profit after zakat and tax of SAR 5.5 million for the first quarter of 2019, a 66.7 percent year-on-year (YoY) decrease on higher cost of goods sold.
4) Al Khaleej Training & Education Co. reported a net profit after zakat and tax of SAR 7.3 million for Q1 2019, a rise of 71.8 percent year-on-year (YoY) on improved sales from the training segment and subsidiaries.
5) United Electronics Co.’s (eXtra) wholly-owned consumer finance unit was licensed by the Saudi Arabian Monetary Authority (SAMA) to provide consumer finance services in the Kingdom.
6) Brent crude on Wednesday gained 40 cents to reach $70.28/bbl, while WTI crude also increased 48 cents to $61.88/bbl.
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