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Profits of Saudi industrial investment companies grow to SAR583 million

Maaden, the largest company in sector, accounts for 63 per cent of sector’s capital

The net profits of industrial investment companies listed in the Saudi capital market during the first quarter of this year amounted to SAR583 million.

The profits grew by 16 per cent or SAR80m compared with SAR503m for the first quarter of last year and SAR 576m for the fourth quarter (up by 1.21 per cent in comparison), reports Saudi-based Al Hayat.

The industrial investment sector consists of 15 listed companies in the stock market, after the listing of Middle East Paper Company’s (MEPCO) shares at the beginning of May, which increased the market value of the sector’s companies to SAR82.2 billion, accounting for 4 per cent of the Saudi market.

The total capitals of industrial investment companies amounted to SAR18.5bn.

Maaden, the Saudi Arabian Mining Company is the largest among the sector’s companies with a capital of SAR 11.7 billion, accounting for 63 per cent of the sector’s capital, the Saudi Industrial Export Company came with the least capital of SAR108m accounting for 0.58 per cent of the sector’s capital.

(SAR1=AED0.98 at the time of publishing)