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Advanced Petrochemical records double-digit profit increase

In Riyadh, the Tadawul All-Share Index fell by 0.10 per cent to 9,798.33 points on Wednesday, July 15 amid an absolute market breadth.

Advanced Petrochemical slipped 0.80 per cent to SAR48. Earlier in the day, the the Jubail-located company said it earned in the first six months 26.5 per cent more than in the corresponding period last year. The net income amounted to SAR322.10 million ($84 million).

Al Hammadi Company For Development and Investment was the top gainer as the share closed 10 per cent (limit up) higher at SAR30.80. 

Gulf Union Cooperative Insurance Company plummeted 10 per cent to SAR26.40.

The market’s bellwether SABIC edged up by 0.50 per cent, finishing at SAR116.50.

Gérard Al-Fil