Saudi Arabia set to become a global leader in biotechnology: Strategy& 

Saudi Arabia set to become a global leader in biotechnology: Strategy& 
Saudi Arabia set to become a global leader in biotechnology: Strategy& 

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 23.45 points, or 0.20 percent, to close at 11,906.13. 

The total trading turnover of the benchmark index was SR6.58 billion ($1.75 billion) as 99 of the 228 listed stocks advanced, while 109 retreated.  

However, the parallel market Nomu slipped 523.57 points, or 2.08 percent, to close at 24,589.59. 

The best-performing stock of the day was Abdulmohsen Alhokair Group for Tourism and Development. The company’s share price surged 9.59 percent to SR2.40. 

Other top performers included Tanmiah Food Co. as well as SABIC Agri-Nutrients Co., whose share prices surged 5.07 percent and 4.48 percent, respectively.  

The worst performer was Saudi Enaya Cooperative Insurance Co., whose share price dropped 3.86 percent to SR11.96.  

On Nomu, International Human Resources Co. was the top gainer with its share price rose 12.18 percent to SR3.50.  

Another best performer on Nomu was Horizon Food Co. The company’s share price soared 8.65 percent to SR62.80.  

Future Care Trading Co. was the major loser on Nomu, as the company’s share price declined 14.81 percent to SR23.  

The share price of Gas Arabian Services Co. also fell 8.50 percent to SR73.20.  

On the announcements front, shares of Professional Medical Expertise Co. began trading on Nomu. The company started trading today with an initial price of SR68 and surged 1.47 percent to close at SR69. 

On another note, the Saudi National Bank announced the board of directors’ resolution to distribute SR5.1 billion worth of cash dividends to the shareholders for the first six months of 2023. 

According to a Tadawul statement, the total number of shares eligible for dividends amounted to 6 billion, with the dividend per share standing at SR0.85 after the zakat deduction. 

In addition to this, the statement also revealed that the percentage of dividend to the share par value stood at 8.5 percent. 

Meanwhile, an increase in total operating income by 26.39 percent partially offset by an increase in total operating expenses by 27.09 percent led to a 25.58 percent increase in Banque Saudi Fransi’s net income in the first half of 2023. 

This comes as the bank’s net profit hit SR2.15 billion, up from SR1.7 billion in the same period in 2022. 

A bourse filing revealed that the bank’s net income jumped 28.2 percent in the second quarter of 2023 to hit SR1.07 billion, up from the SR837 million recorded in the same quarter in 2022. 

In addition to this, the bank’s net income dropped 0.28 percent in the second quarter when compared to the SR1.07 billion recorded in the first quarter of the year. 

Another firm that announced its financial results was Saudia Dairy and Foodstuff Co. Its net profit hit SR107.64 million in the second quarter of 2023, reflecting a 91.26 percent surge when compared to the corresponding period a year earlier. 

According to a Tadawul statement, the firm’s net profit is 19.96 percent higher than the SR89.73 million recorded in the first quarter of the year. 

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