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Tadawul market in stutter mode
- Saudi Arabia: Sunday, May 12 - 2013 at 17:21
The Tadawul All-Share Index fell 0.35% to 7,195.17 points Sunday. Sabic lost 0.27% to close at SR91.50. Al Alamiya for Cooperative Insurance Company gained the most (up 2.44% at SR62.25). Fashion retail company Fawaz Abdulaziz AlHokair dived 3.31% to SR131.50. Earlier in the day, Fawaz Abdulaziz said the net profit Q1 was SR619.69m, an increase of 38.5% year-on-year. The firm said the increase was due to the increase of the sales for the same stores and the successful opening of new stores, "introducing new concepts and brands, the consolidation of the results of the acquired business Nesk trading projects LLC and the international expansions." In addition the firm saw an increase in other income "mainly from capital gains related to capital gains from international company and FX gains."
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Gérard Al-Fil, Financial JournalistSunday, May 12 - 2013 at 17:21 UAE local time (GMT+4)
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