On May 23, the Tadawul All Share Index in Saudi Arabia closed at 11,275.77, down 0.47 percent or 53.42 points. Meanwhile, the parallel market Nomu rose by 230.64 points to close at 20,834.64, after losing 183.81 points on Monday. The MSCI Tadawul Index dropped by 0.73 percent to 1,509.98. The total trading turnover of the benchmark index was SR6.64 billion ($1.77 billion). East Pipes Integrated Co. for Industry was the top performer, with its share price surging by 7.55 percent to SR65.50. The worst performer of the day was Ayyan Investment Co., which saw its share price dip by 6.71 percent to SR18.64.
BinDawood Holding revealed that its net profit fell by 20.25 percent in the first quarter to SR52.20 million, compared to SR65.45 million in the same period a year ago. The company’s share price dropped by 2.69 percent to SR68.80. Abdulmohsen Alhokair Group for Tourism and Development announced that its net loss deepened in the first quarter to SR34.34 million, from SR31.99 million in the same quarter of 2022. Driven by the reported loss, the firm’s share price dropped by 1.79 percent to SR27.40.
Thimar Development Holding Co. turned to a net loss of SR784,636 in the first quarter of 2023 from a net profit of SR2.55 million in the same quarter of 2022. Al Abdullatif Industrial Investment Co. widened its net loss in the first quarter to SR20 million, from the SR11 million net loss it incurred in the first quarter of last year. However, Al Gassim Investment Holding Co. reported a net profit of SR560,611 in the first quarter, compared to a net loss of SR469,177 in the same period last year. Kingdom Holding Co. reported a 97.1 percent plunge in net profit for the first quarter of 2023 to SR171.1 million, compared to SR5.9 billion in the same quarter a year ago. Arabian Centers Co. reported that its net profit for the first quarter went up by 125.71 percent to SR388 million, compared to SR171.9 million for the first quarter of 2022. Seera Group Holding announced that its net profit hit SR57 million in the first quarter of 2023, compared to the SR63 million net loss in the same quarter last year.