https://arab.news/jbbwk
RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Tuesday, with the main market shedding 192.11 points, or 1.58 percent, to close at 11,931.70.
The total trading turnover of the benchmark index was SR6.47 billion ($1.73 billion), with 47 of the listed stocks advancing and 202 declining.
Saudi Arabia’s parallel market Nomu also shed 161.93 points to close at 31,534.04.
The MSCI Tadawul Index edged down by 1.67 percent to 1,500.46.
The best-performing stock in the main market was the Power and Water Utility Co. for Jubail and Yanbu. The firm’s share price increased by 6.70 percent to SR49.40.
The share price of SHL Finance Co. rose by 3.96 percent to SR17.32.
Malath Cooperative Insurance Co. also saw its share price climb by 3.04 percent to SR14.24.
Conversely, the share price of Al-Etihad Cooperative Insurance Co. declined by 8.42 percent to SR15.66.
On the announcements front, Saudi Chemical Co. said that its net profit for 2024 reached SR291.2 million, representing a rise of 59.21 percent compared to 2023.
In a Tadawul statement, the company attributed this growth to higher sales volumes and a rise in operational profit.
Saudi Chemical Co. added that its total revenue for last year stood at SR6.37 billion, marking a 31.32 percent year-on-year rise.
The share price of Saudi Chemical Co. slipped by 3.40 percent to SR8.53.
Nice One Beauty Digital Marketing Co., which debuted on Tadawul in January, revealed that its net profit for 2024 stood at SR71.74 million, marking a rise of 119.91 percent compared to the previous year.
The company said that the rise in net profit was driven by a mix of customer acquisitions, an expanded product range, and improved customer retention.
Despite the rise in profit, Nice One’s share price declined by 9.95 percent to SR53.40.
Modern Mills for Food Products Co. said that its net profit for 2024 increased 3.4 percent year-on-year to SR208.67 million.
The firm added that its board of directors also recommended a cash dividend at 100 percent of capital or SR1 per share for 2024.
The share price of the food production firm edged up by 1.01 percent to SR39.85.
Herfy Food Services Co. swung to an SR116.52 million loss in 2024 compared to a profit of SR8.38 million in the year-ago period.
In a Tadawul statement, the company attributed the loss to a decrease in sales volumes, as well as higher selling, marketing, general, and administration expenses.
Herfy Food’s share price edged down by 4.09 percent to SR23.