Profits of Saudi Listed Firms Double Four-Fold

Business

August 24th, 7:55am

Riyadh - Asharq Al-Awsat

A general view of Riyadh, Saudi Arabia. (AFP)

The results of the Saudi firms listed at Tadawul witnessed a four-fold rise in Q2 of the current year. Net profit totaled 129.5 billion riyals ($34.5 billion) compared to 26.5 billion riyals for the same quarter in the past year, the peak of the coronavirus pandemic. Retained earnings reached 107.8 billion riyals in the first quarter. This is the first net increase in revenues after six consecutive periods of loss. During the same period in 2020, retained earnings reached 74.8 billion riyals. Saudi Arabia’s benchmark Tadawul All Share Index closed 0.1 percent lower at 11,062 points on Monday. Trading volume totaled approximately 5.8 billion riyals ($1.5 billion).

from Asharq AL-awsat https://english.aawsat.com/home/article/3149241/profits-saudi-listed-firms-double-four-fold