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Arab News
3 days ago
- Business
- Arab News
Closing Bell: Saudi main market closes lower at 10,885
RIYADH: Saudi Arabia's Tadawul All Share Index closed lower on Monday, falling 70.90 points, or 0.65 percent, to end the session at 10,885.32. The total trading turnover on the main market reached SR4.61 billion ($1.2 billion), with 546.78 million shares traded. A total of 72 stocks advanced while 177 declined. The MSCI Tadawul 30 Index also dropped, losing 10.55 points, or 0.75 percent, to close at 1,399.41. On the Kingdom's parallel market Nomu, the index declined by 209.73 points, or 0.78 percent, to finish at 26,781.28. Of the listed companies, 31 gained while 49 fell. Sport Clubs Co. led the gainers, rising 9.92 percent to SR11.19. It was followed by SHL Finance Co., which advanced 6.47 percent to SR23.85, and Allied Cooperative Insurance Group, which rose 6.13 percent to SR11.43. Riyadh Cables Co. posted a gain of 4.73 percent, while Saudi Co. for Hardware rose 3 percent. On the other hand, Tourism Enterprise Co. recorded the sharpest decline of the session, falling 9.84 percent to SR1.10. Banque Saudi Fransi dropped 5.26 percent to SR16.92, while Raydan Food Co. fell 4.07 percent to SR13.66. Thob Al Aseel Co. declined by 3.93 percent, while Northern Region Cement Co. fell 3.89 percent. On the announcement front, Al Majeed Oud Co. reported a 19.6 percent year-on-year increase in revenue for the first half of 2025, reaching SR618.8 million compared to SR517.2 million in the same period last year. The company also posted a 21.5 percent rise in net profit, which grew to SR145.2 million from SR119.5 million over the same timeframe. According to the company, the increase in sales was driven by the performance of newly launched products, retail network expansion, growth in its e-commerce platform, and targeted marketing campaigns during the Ramadan and Hajj seasons. It attributed the rise in net profit to the same commercial factors, along with improved operational efficiency measures. Shares of Al Majeed Oud Co. closed at SR130, down 1.52 percent. Raoom Trading Co. reported a 13.7 percent year-on-year decline in revenue for the first half of 2025, with sales falling to SR51.5 million from SR59.7 million in the same period last year. Net profit also dropped sharply, falling 91.9 percent to SR2.2 million from SR28.3 million. The company attributed the decline in revenue to lower average selling prices driven by market conditions and a reduction in sales volumes. The fall in net profit was also linked to a SR3 million loss from the revaluation of financial assets at fair value, compared to a gain of SR14.8 million in the corresponding period of 2024. Shares of Raoom Trading Co. closed at SR60.55, down 1.54 percent.
Argaam
4 days ago
- Business
- Argaam
Sport Clubs opens new branch in Dammam
Sport Clubs Co. opened today, July 27, a new men's club under the "Body Masters Premium" brand in Uhod District, Dammam, according to a Tadawul statement. This expansion came as part of the company's ambitious strategy to strengthen its Kingdom-wide footprint. The four-story club spans a total built-up area of around 10,100 square meters (sqm). Two floors are dedicated to parking spaces, with an approximate area of 7,100 sqm, accommodating more than 160 vehicles. The two other floors were allocated to the fitness facility, stretching over an area of nearly 3,000 sqm, boasting the latest equipment, services, and a comprehensive range of modern amenities. The financial impact of this new club is expected to appear in the third quarter of this year, the company said, noting that the opening reflects the company's ongoing commitment to expanding its local footprint. This marked the fifth opening in 2025, following the launch of two clubs in Riyadh's Al Aridh District and two others in AlUla City. This brought the total number of operating clubs to 59, consisting of 42 for males and 17 for females. Sport Clubs currently has 12 fitness centers with signed lease agreements, most of which are either under construction or pending the necessary permits to commence construction. The clubs, in addition to several others under negotiation, are expected to open within the next 18 months. Additionally, the company closed down two Express clubs during the first quarter of 2025, as part of a network restructuring and operational efficiency enhancement plan.
Arab News
23-07-2025
- Business
- Arab News
Closing Bell: Saudi main index rises to close at 10,983
RIYADH: Saudi Arabia's Tadawul All Share Index rose on Wednesday, gaining 140.73 points, or 1.30 percent, to close at 10,983.93. The total trading turnover of the benchmark index was SR5.34 billion ($1.42 billion), as 207 of the stocks advanced and 46 retreated. Similarly, the Kingdom's parallel market Nomu gained 38.14 points, or 0.14 percent, to close at 26,778.15. This comes as 43 of the listed stocks advanced while 35 retreated. The MSCI Tadawul Index gained 21.53 points, or 1.55 percent, to close at 1,411.73. The best-performing stock of the day was Sport Clubs Co., whose share price surged 18.60 percent to SR11.03. Other top performers included Middle East Specialized Cables Co., whose share price rose 7.56 percent to SR33.56, as well as Tourism Enterprise Co., whose share price surged 5.88 percent to SR1.08. SICO Saudi REIT Fund recorded the most significant drop, falling 5.13 percent to SR4.07. Obeikan Glass Co. also saw its stock price fall 3.22 percent to SR38.84. Saudi Azm for Communication and Information Technology Co. also saw its stock prices decline 3.21 percent to SR26.50. On the announcements front, Bank Albilad has announced its interim financial results for the period ending on June 30. According to a Tadawul statement, the firm recorded a net profit of SR1.46 billion during the first six months of the year, reflecting an 11.5 percent rise compared to the same period a year earlier. This climb is primarily attributed to a 9 percent increase in net income, driven by a rise in total operating income. Dividend income, net gain on fair value through statement of income instruments, and other operating income have decreased. Total operating expenses increased by 7 percent, primarily driven by higher general and administrative costs, salaries and employee benefits, as well as depreciation and amortization. Despite this, there was a decline in net impairment charges for expected credit losses. Bank Albilad ended the session at SR25.78, up 3.20 percent. The Saudi Investment Bank has also announced its interim financial results for the first half of the year. A bourse filing revealed that the company recorded a net profit of SR 1.01 billion for the period ending June 30, up 9.3 percent year over year. This jump is primarily linked to an increase in total operating income. The Saudi Investment Bank ended the session at SR14.05, up 1.28 percent. Yanbu Cement Co. also announced its condensed consolidated financial results for the six-month period ending on June 30. According to a Tadawul statement, the firm recorded a net profit of SR51.5 million during the first half of 2025, reflecting a 47.4 percent decrease compared to the same period a year earlier. The drop in net profit for the current period compared to last year is mainly due to lower domestic sales revenues driven by a decline in average selling prices, reduced margins from export sales, higher financing costs, and increased general and administrative expenses. Yanbu Cement Co. ended the session at SR18.32, down 0.05 percent.
Arab News
22-07-2025
- Business
- Arab News
Closing Bell: Saudi main index slips to 10,843
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Tuesday, as it shed 137.97 points, or 1.26 percent, to close at 10,843.20. The total trading turnover of the benchmark index was SR4.92 billion ($1.31 billion), with 25 of the listed stocks advancing and 231 declining. The Kingdom's parallel market, Nomu also dropped 340.01 points to close at 26,740.01. The MSCI Tadawul Index declined by 1.33 percent to 1,390.20. The best-performing stock on the main market was Sport Clubs Co., which debuted on the benchmark index on Tuesday. The firm's share price advanced by 24 percent to SR9.30. The share price of Tourism Enterprise Co. also rose by 6.25 percent to SR1.02. Riyadh Cables Group Co. saw its stock price climb by 1.92 percent to SR132.50. The share price of Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, declined by 5.71 percent to SR29.38. On the announcements front, Etihad Etisalat Co., also known as Mobily, announced its net profit for the first half of the year reached SR1.59 billion, representing a 22.94 percent increase compared to the same period in 2024. In a Tadawul statement, Mobily attributed the rise in net profit to increased revenues across all business segments and its growing customer base. Mobily saw its stock price edge up by 1.90 percent to SR56.25. Saudi Automotive Services Co. said its net profit for the first half witnessed a year-on-year rise of 48.64 percent to SR33.98 million. According to SASCO, the rise in net profit was driven by a higher number of service stations, strong sales from its SASCO Palm and transportation segments, as well as an increase in the selling prices of diesel. The share price of SASCO rose by 1.48 percent to SR55. Dar Almajed publishes IPO prospectus Dar Almajed Real Estate Co. has published the prospectus for its initial public offering, which will list 90 million shares with a nominal value of SR1 each on the main market. The development follows the Kingdom's Capital Market Authority's approval for the company to float 30 percent of its SR300 million capital in March. The book-building process commenced on June 29 and will conclude on Aug. 4. The retail subscription period will run from Aug. 14 to 18. The company has appointed Saudi Fransi Capital as financial adviser, lead manager, institutional bookrunner, and underwriter for the IPO.
Bloomberg
22-07-2025
- Business
- Bloomberg
Saudi Fitness Firm Surges on Trading Debut, Defying IPO Slowdown
Shares of Sport Clubs Co., a Saudi Arabia-based fitness operator, soared in their trading debut on Tuesday, bucking a streak of muted listings in the kingdom. The stock rose to 9.3 riyals, up 24% from the offer price of 7.5 riyals, giving the company a market valuation of over 1 billion riyals ($266 million). The broader Saudi stock market fell. The IPO was priced at the top of its range and was 44.1 times oversubscribed, signaling strong investor demand despite a broader market slowdown.
