Tadawul All Share Index closed at 11,752 points, rising by 66.57 points or 0.6 percent from yesterday’s close.
A number of companies reported their results for the nine months to the end of September.
Saudi Arabian Amiantit Co. made a net loss of SR147.8 million ($39.4 million).
Its net losses shrank by 39.4 percent this year. This was driven by recording SR60.2 million ($16.1 million) in profits in the current period.
United Cooperative Assurance Co. booked a before-zakat net loss of SR52 million ($13.9 million) for the nine month period. Net losses widened massively by 193.5 percent compared to last year as net underwriting and total investment income fell.
Hail Cement Co. reported a 44.4 percent drop in its net profit for the first 9 months of this year. It fell to SR47.2 million ($12.6 million) as revenues slumped this year.
Abdullah Saad Mohammed Abo Moati for Bookstores Co. saw a rise in its net profit for the same period as it rocketed by 381.3 percent, compared to the same period last year, to reach SR7.2 million ($1.8 million). The pandemic boosted its sales.
AYYAN Investment Company made a net profit of SR14.3 million ($3.8 million) for the nine month period. Profits declined by 55.5 percent as general and administrative expenses, along with finance costs, went up.
Alkhorayef Water and Power Technologies Co. experienced a decline of 13.8 percent in its net profit to reach SR71 million ($18.9 million).
Deals and financing
Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) signed a SR150 million ($42.4 million) Murabha agreement with Saudi EXIM Bank.
Bank Aljazira announced that it will issue Tier 2 Sukuk at a value not exceeding SR2 billion ($533 million).