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Tadawul bourse up, Arriyadh Development Q4 profit more than doubles
- Saudi Arabia: Saturday, January 12 - 2013 at 17:35
The Saudi Stock Exchange's market started the week with a 0.55% advance, finishing at 7,165.76 points. SABIC fell a quarter percetage point to SR94.50. Arriyadh Development Co. gained 1.10% to reach SR23.25. Earlier in the day, the developer said its (interim) fourth quarter net profit was SR71.2m, up 95% year-on-year and up 148% quarter-on-quarter. The full-year profit reached SR228.9m, representing a 76% increase compared to 2011. According to Citigroup, construction projects planned and underway in KSA, the largest MENA real estate market, currently stand at $790bn, up 19% year-on-year, implying key potential growth for contractors.
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Gérard Al-Fil, Financial JournalistSaturday, January 12 - 2013 at 17:35 UAE local time (GMT+4)
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