RIYADH: Domino's Pizza regional operator Alamar Foods Co. recorded a 10 percent profit increase after seeing significant sales growth in the first half. Alamar’s profits jumped to SR67 million ($17 million) during the first half of the year, compared to SR60.9 million in the first half of 2021, according to a bourse filing. The profit was coupled with a 31 percent increase in
RIYADH: Fast-food chain operator Alamar Foods Co. saw its shares surge 2.4 percent as it started trading on the Saudi Exchange on Tuesday, following a SR1.2 billion ($326 million) initial public offering. Its share price rose to SR117.6 from the IPO price of SR115 by 10:47 a.m. Saudi time, amid trading of almost 1.9 million shares. The company raised 42 percent of its capital,
RIYADH: Saudi Arabia’s stock market extended gains on Wednesday on the back of strong earnings in the banking sector as well as rising oil prices. The main index TASI advanced 0.7 percent to 12,052. Similarly, the parallel Nomu market was up 0.2 percent to 20,823. TASI was supported by gains in some of its biggest banks, including the Kingdom’s largest lender Saudi National
RIYADH: Alamar Foods has set the top range of its initial public offering prices at SR115 ($30.64) per share, with a 47.5 percent oversubscription, after completing its pricing and book building process for institutional investors. The final offer price gives the fast food chain franchiser an implied market capitalization at listing of SR2.933 billion. Alamar Foods is
RIYADH: Saudi fast food chain franchiser Alamar Foods Co. recorded 20 percent annual growth in sales in 2021 as its total number of stores exceeded 560, CEO Filippo Sgatoni told Argaam. This allowed the company to grow its sales to SR2.1 million ($559,702) for each store up from SR1.6 million in 2019. Alamar is a Saudi-based Quick Service Restaurant operator of two globally