An avalanche of earnings news dominated by the ins. sector.

GROUP FIVE-

Group Five Pipe Saudi turned into the black with net income of SAR 9.2 mn in 2023, and revenues doubled y-o-y to SAR 455 mn, it said in a disclosure to Tadawul.

JAHEZ-

Jahez International’s net income doubled y-o-y to SAR 125 mn in 2023, and revenues were up 11.4% y-o-y to SAR 1.8 bn, it said in a disclosure to Tadawul.

MEDGULF-

The Mediterranean and Gulf Ins. and ReIns. turned into the black with net income of SAR 201.5 mn in 2023, and revenues were up 26% y-o-y to SAR 3.3 bn, it said in a disclosure to Tadawul.

DAR ALARKAN-

Dar Alarkan Real Estate Development’s net income increased 38.3% y-o-y to SAR 610.8 mn in 2023, while revenues were down 31% y-o-y to SAR 2.7 bn, it said in a disclosure to Tadawul.

UCA-

United Cooperative Assurance turned into the black with net income of SAR 5.3 mn in 2023, and revenues were up 67.4% y-o-y to SAR 1.1 bn, it said in a disclosure to Tadawul.

SAICO-

Saudi Arabian Cooperative Ins. turned into the black with net income of SAR 71.1 mn in 2023, and revenues were up 14.6% y-o-y to SAR 1 bn, it said in a disclosure to Tadawul.

RAWASI-

Nomu-listed Rawasi Albina Investment’s net income increased 8.6% y-o-y to SAR 22.7 mn in 2023, and revenues were up 21.5% y-o-y to SAR 164.2 mn, it said in a disclosure to Tadawul.

ALMUNAJEM-

Almunajem Foods Company’s net income dipped 2.8% y-o-y to SAR 282 mn in 2023, while revenues were up 11.3% y-o-y to SAR 3.3 bn, it said in a disclosure to Tadawul. On a quarterly basis, their bottom line grew 5x y-o-y to SAR 81.6 mn in 4Q 2023, and its top line increased 11% y-o-y to SAR 829.2 mn.

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