Latest news with #ArabianPipes
Zawya
2 days ago
- Business
- Zawya
Mideast Stocks: Earnings drag Saudi, Abu Dhabi down, while lifting Dubai amid cautious trade outlook
Saudi Arabia and Abu Dhabi edged lower on Tuesday on lacklustre second-quarter results, while Dubai advanced, bucking major Gulf peers, supported by strong corporate performance and optimism around future positive earnings announcements. Saudi Arabia's benchmark index <.TASI> eased 0.6%, pressured by a string of disappointing earnings across key sectors. Arabian Drilling < plunged 10% after posting a sharp drop in second-quarter profit, well below analysts' expectations, and announcing a suspension of cash dividends for 2025. Arabian Pipes < fell more than 3.5% after missing quarterly estimates, while Jamjoom Pharmaceuticals < dropped nearly 5% as its shares traded ex-dividend. Dubai's benchmark index <.DFMGI> rose 0.2% to hit over a 17-1/2-year high, logging its fifth consecutive session of gains, as hopes remain high ahead of key earnings, mainly from the real estate sector. Gains were driven by a 1% jump in toll operator Salik maintaining the same stretch of wins. Elsewhere, Dubai Taxi Company climbed nearly 7.5% after its second-quarter results topped market expectations and it announced a higher half-year dividend than last year. The Abu Dhabi index <.FTFADGI> edged down 0.2% as mixed corporate earnings offset optimism from the previous week's strong performance that was expected to sustain momentum. Abu Dhabi's largest developer, Aldar Properties , slipped over 3% after announcing a marginal second-quarter revenue decline sequentially, despite reporting a record order backlog of 62.3 billion dirhams as of the end of June. Among other laggards, IHC-owned investment firm Multiply Group sank 3.3% after its quarterly profit halved year-on-year. Qatar's benchmark index <.QSI> fell 0.6%, weighed down by broad-based sectoral declines, as investors booked profits following a multi-year rally, with Qatar Islamic Bank losing nearly 2%. Investors remained focused on global trade risks following the U.S. and European Union's weekend deal, which reduced the threat of a 30% tariff to a 15% levy on most EU imports. While the agreement eased immediate fears, sentiment remained cautious as markets weighed the higher duties against the 1% to 2% level before Trump returned to the White House. Trump's ongoing tariff policies continue to fuel worries over global growth, with potential slowdowns in trade and consumption threatening energy demand and the fiscal stability of oil-dependent Gulf economies. Outside the Gulf, Egypt's blue-chip index <.EGX30> was flat following a recent record peak. (Reporting by Amna Mariyam in Bengaluru; Editing by Vijay Kishore)
Yahoo
26-06-2025
- Business
- Yahoo
Undiscovered Gems In Middle East Featuring Arabian Pipes And 2 Promising Stocks
As Middle Eastern markets experience a resurgence, buoyed by easing geopolitical tensions and favorable economic indicators, investors are increasingly eyeing opportunities in this dynamic region. In such an environment, identifying stocks with strong fundamentals and growth potential becomes crucial, as they can offer promising prospects amid the current market optimism. Name Debt To Equity Revenue Growth Earnings Growth Health Rating Mendelson Infrastructures & Industries 23.11% 5.81% 10.57% ★★★★★★ MOBI Industry 6.50% 5.60% 24.00% ★★★★★★ Alf Meem Yaa for Medical Supplies and Equipment NA 17.03% 18.37% ★★★★★★ Baazeem Trading 8.48% -2.02% -2.70% ★★★★★★ Sure Global Tech NA 11.95% 18.65% ★★★★★★ Saudi Azm for Communication and Information Technology 2.07% 16.18% 21.11% ★★★★★★ Nofoth Food Products NA 15.75% 27.63% ★★★★★★ National Corporation for Tourism and Hotels 19.25% 0.67% 4.89% ★★★★☆☆ Waja 23.81% 98.44% 14.54% ★★★★☆☆ Saudi Chemical Holding 79.49% 16.57% 44.01% ★★★★☆☆ Click here to see the full list of 218 stocks from our Middle Eastern Undiscovered Gems With Strong Fundamentals screener. Underneath we present a selection of stocks filtered out by our screen. Simply Wall St Value Rating: ★★★★★☆ Overview: Arabian Pipes Company specializes in the production and marketing of steel tubes within Saudi Arabia, with a market capitalization of SAR 1.24 billion. Operations: The company's primary revenue stream is from steel pipe production, generating SAR 1.08 billion. Arabian Pipes, a notable player in the Middle East's industrial sector, recently secured contracts worth SAR 211 million with Saudi Aramco and Br C.A.T. International L.L.C., enhancing its revenue stream. Despite a net income drop to SAR 40 million from SAR 55 million year-on-year for Q1 2025, the company's interest payments are well covered by EBIT at four times coverage. While its net debt to equity ratio remains high at 41.5%, it has improved from 114% over five years, indicating better financial management. The company also announced a dividend of SAR 22.5 million, reflecting shareholder value commitment. Delve into the full analysis health report here for a deeper understanding of Arabian Pipes. Examine Arabian Pipes' past performance report to understand how it has performed in the past. Simply Wall St Value Rating: ★★★★★☆ Overview: Middle East Specialized Cables Company, along with its subsidiaries, operates in Saudi Arabia and the United Arab Emirates by manufacturing and selling fiber optic cables, steel insulated wires and cables, copper insulated wires and cables, and aluminum insulated wires and cables; it has a market cap of SAR1.31 billion. Operations: The company's primary revenue stream comes from its wire and cable products, generating SAR1.19 billion. Middle East Specialized Cables, a promising player in the region, showcases a robust financial profile with its net debt to equity ratio at 17.9%, indicating prudent financial management. Recent earnings growth of 34.9% outpaced the industry average of 10.3%, highlighting its competitive edge. The company reported sales of SAR 1.14 billion for 2024, up from SAR 926 million the previous year, reflecting strong market demand for its products. Despite this progress, net income dipped slightly in Q1 2025 to SAR 19.2 million from SAR 25.96 million a year earlier, suggesting potential challenges ahead amidst volatile share prices recently observed over three months. Unlock comprehensive insights into our analysis of Middle East Specialized Cables stock in this health report. Understand Middle East Specialized Cables' track record by examining our Past report. Simply Wall St Value Rating: ★★★★★☆ Overview: Middle East Pharmaceutical Industries Company focuses on the research, development, manufacture, and marketing of generic medicines and pharmaceutical preparations both domestically in Saudi Arabia and internationally, with a market cap of SAR2.41 billion. Operations: Middle East Pharmaceutical Industries generates revenue through three primary segments: Export Customers (SAR46.04 million), Public Customers (SAR89.71 million), and Private Customers (SAR279.79 million). Middle East Pharmaceutical Industries, a small cap player in the region, has shown impressive momentum with earnings growth of 18.7% over the past year, outpacing the industry average of 5.4%. The company's net debt to equity ratio stands at a satisfactory 7.4%, and its interest payments are well covered by EBIT at 26.8 times coverage. Recent financials reveal Q1 sales reaching SAR 97 million compared to SAR 76 million last year, boosting net income to SAR 19 million from SAR 9 million. Additionally, dividends were distributed at SAR 1.25 per share for H2 of 2024, totaling SAR 25 million. Take a closer look at Middle East Pharmaceutical Industries' potential here in our health report. Learn about Middle East Pharmaceutical Industries' historical performance. Delve into our full catalog of 218 Middle Eastern Undiscovered Gems With Strong Fundamentals here. Already own these companies? Link your portfolio to Simply Wall St and get alerts on any new warning signs to your stocks. Take control of your financial future using Simply Wall St, offering free, in-depth knowledge of international markets to every investor. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SASE:2200 SASE:2370 and SASE:4016. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Argaam
12-06-2025
- Business
- Argaam
Edaa implements securities increase on Arabian Pipes
The Securities Depository Center Co. (Edaa) announced implementing securities quantity increase for Arabian Pipes Co. (APC) on the accounts of eligible shareholders today, June 12. According to data available with Argaam, APC shareholders recently approved the board's recommendation to increase capital from SAR 150 million to SAR 200 million via a 3-to-1 bonus issue. The process will be financed through capitalizing SAR 50 million from the retained earnings.
Zawya
04-06-2025
- Business
- Zawya
Mideast Stocks: Most Gulf markets rise, Dubai's main index hits over 17-year high
Most Gulf share indexes ended higher on Wednesday, tracking steady oil prices as a hit to Canadian supply from wildfires offset a hit from ongoing OPEC+ output increases. Dubai's main share index hit its highest levels since 2008 and settled 0.25% higher, with real estate financier Amlak Finance the top gainer on the index with a 14.6% rise. The index has been recording gains each year since 2021. It rose 27% last year and is up 7% so far this year. Abu Dhabi's benchmark index followed the trend, closing 0.45% higher. The index recorded a second consecutive session of gains. Oil prices - a catalyst for stock markets in the Gulf - held steady, with Brent crude futures rising 0.1% to $65.59 a barrel by 1203 GMT. The OPEC+ group recently decided to increase output by 411,000 barrels per day, a similar increase from the prior two months. Meanwhile, Canada's wildfires have reduced production by 344,000 bpd, according to Reuters calculations. A possible call between U.S. President Donald Trump and Chinese leader Xi Jinping also dominated market sentiment, with investors continuing to focus on the pace of trade negotiations. Saudi Arabia's benchmark stock index settled 1.59% higher, with Arabian Pipes Company jumping 35.15%. The welded steel pipes manufacturer approved an increase of its share capital to 200 million SAR ($53.32 million) at an extraordinary meeting last day. JP Morgan also said on Tuesday that the kingdom is expected to issue $12.6 billion in bonds until year-end. Companies in Saudi Arabia have been tapping debt markets, with state oil giant Aramco raising $5 billion in bonds last week. Aramco settled flat on Wednesday. Qatar's benchmark stock index finished 0.56% lower, with Commercial Bank falling 2.45%. Data from Qatar's finance ministry showed that the country recorded a budget deficit of 0.5 billion Qatari riyals ($137.32 million) in the first quarter of 2025 and total revenue of 49.9 billion Qatari riyals, down 7.5% from the same period last year. Outside the Gulf, Egypt's blue-chip index was up 1%, with automotive company GB Corp rising 7.29%. The index recorded a second consecutive session of gains. Wednesday also marks the deadline for countries to submit their best proposals for trade deals with the United States to avoid Trump's hefty tariffs. All Gulf stock markets will be closed on Thursday as the countries will be observing the Day of Arafat. SAUDI ARABIA up 1.59% to 11,004.5 ABU DHABI up 0.45% to 9,735 DUBAI up 0.25% to 5,535.9 QATAR down 0.56% to 10,558.3 EGYPT up 1% to 32,677.9 BAHRAIN up 0.1% to 1,923.1 OMAN up 0.56% to 4,578.8 KUWAIT up 0.42% to 8,854.23 ($1 = 3.7506 Saudi Riyals) ($1 = 3.6412 Qatar riyals) (Reporting by Rishab Shaju in Bengaluru; Editing by Leroy Leo)
