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MIDEAST STOCKS Gulf stocks gain in morning trade as oil prices rise

Saudi-listed companies see total profits surge 44% in Q1 2021

Saudi-listed companies see total profits surge 44 percent in Q1 2021

JEDDAH: Companies listed on the Saudi stock exchange (Tadawul) reported a 44 percent year-on-year increase in aggregate net profit during the first quarter (Q1) of 2021, after declining for eight quarters, according to a report by financial data platform Argaam. The listed firm reported total net profit was SR107.88 billion ($28.77 billion) compared to SR74.86 billion achieved during the same period in 2020. One of the key reasons behind the increase was the accelerated return to normal life after partial or complete lockdown as part of measures implemented during the coronavirus disease (COVID-19) pandemic, economist and financial analyst Talat Zaki Hafiz explained to Arab News.

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