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#1- Hail Cement’s net income rose 50% y-o-y to SAR 24.6 mn in 2023 on the back of healthy returns from financial investments and murabaha deposits, it said in a disclosure to Tadawul. Revenues fell 37.3% y-o-y to SAR 229 mn over the same period.
The company’s BoD has recommended a dividend payout of SAR 33.7 mn at SAR 0.35 a share for 4Q 2023, it said in a separate disclosure.
#2-Saudi Steel Pipe’s net income rose 4x y-o-y to SAR 217 mn in 2023, which was down to product diversification and volume increase as well as positive results from its acquisition of Global Pipes Company despite its SAR 35 mn finance fee, it said in a disclosure to Tadawu l. Revenues were up 78.5% y-o-y to SAR 1.3 bn over the same period.
