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RIYADH: Raydan Food Co. reported widening losses as sales dipped and costs rose. First-quarter net losses at the company, which owns restaurants and provides catering across the Kingdom, climbed to SR8.9 million ($2.4 million) from SR6.7 million in the year earlier period, but were an improvement on the SR33.3 million loss posted for the fourth quarter of 2020, Raydan said in a filing to the Tadawul. Sales slipped to SR34.3 million from SR48.7 million a year ago, but were up from the previous quarter’s SR29.4 million. Raydan attributed its year-on-year loss to lower sales because of the coronavirus pandemic, higher cost of sales and an increase in operating costs, including closing, temporarily or permanently, some of its outlets. ....
Tadawul sees over 200,000 transactions worth SAR 6 bln in first hour of trading 24/02/2021 Argaam Saudi Stock Exchange ( Tadawul) witnessed more than 200,000 transactions on listed shares in the first hour of trading today, Feb. 24, 2021.
In the first hour, over 222,000 transactions were executed on about 190 million shares with a total value of about SAR 6 billion – possibly the highest in the market history - as no data is available on the number of transactions executed on Tadawul before 2007.
The benchmark Tadawul All Share Index (TASI) saw heavy buying in the first 20 minutes of trading, as the index managed to break above the 9,200-point level, at 9,217 points, before witnessing profit-taking amid large selling, as the index fell to 9,079 points. ....
Here are a few things you need to know as Saudi stocks start trading on Sunday. 1) Al-Babtain Power and Telecommunication Co.’s board of directors recommended a 10% cash dividend for the fiscal year 2020, at SAR 1 per share, amounting to SAR 42.63 million. 2) Raydan Food Co. submitted its request to increase capital through rights issue to the Capital Market Authority (CMA) on Dec. 30, 2020. 3) Bank Aljazira shareholders authorized the board of directors to distribute interim dividends, quarterly or semi-annually, for FY2021. 4) Abdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati) renewed a Shariah-compliant financing facility agreement with Saudi Investment Bank (SAIB) worth SAR 70 million. ....
Here are a few things you need to know as Saudi stocks start trading on Tuesday. 1) National Gas and Industrialization Co. (GASCO) said its share in the cash dividends of its subsidiary, National Industrial Gases Co., is SR50.4 million ($13.44 million). 2) Raydan Food Co. opened a franchise branch in Yanbu Industrial City on Dec. 28, 2020. 3) Saudi Electricity Co.’s (SEC) shareholders approved the plan for the SR3.35 billion dividend owed to Saudi Arabian Oil Co. (Saudi Aramco) since SEC’s inception until 2017. 4) Naseej International Trading Co.’s accumulated losses dropped to zero after shareholders agreed at the extraordinary general meeting (EGM) to cut capital. ....