{"id":84224,"date":"2024-03-11T00:00:00","date_gmt":"2024-03-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/11\/still-earnings-news\/"},"modified":"2024-03-11T00:00:00","modified_gmt":"2024-03-11T00:00:00","slug":"still-earnings-news","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/11\/still-earnings-news\/","title":{"rendered":"Still earnings news"},"content":{"rendered":"

Strap in and get ready for a quick overview:<\/strong><\/p>\n

\n

TADAWUL GROUP-<\/p>\n

Saudi Tadawul Group Holding\u2019s net income fell 8% y-o-y to SAR 390 mn in 2023<\/strong>, and revenues dipped 1.6% to SAR 1.1 bn, it said in an earnings release (pdf)<\/a>. The Group\u2019s BoD has approved a dividend payout of SAR 276 mn at SAR 2.3 per share for 2023, it said in a disclosure<\/a>. <\/p>\n

\n

MARAFIQ-<\/p>\n

Marafiq saw its net income drop 38% y-o-y to SAR 526 mn in 2023,<\/strong> while revenues inched down 1.8% y-o-y to SAR 6.4 bn, it said in a disclosure to T<\/a>adawul<\/a>. The sharp decline in bottom line was attributed to a 74% increase in financing costs and a 1.78% y-o-y fall in revenues, which it explains comes as a result of decreased demand for power from some major customers in Yanbu Industrial City, and despite the increase in revenues from its water and gas sectors.<\/p>\n

\n

ELM-<\/p>\n

Digital security firm Elm\u2019s net income increased 46% y-o-y to SAR 1.4 bn in 2023<\/strong>, and revenues rose 28% y-o-y to SAR 5.9 bn, it said in a disclosure to Tadawul<\/a>. The company\u2019s BoD has approved a dividend payout of SAR 311 mn at SAR 4 per share for 2H 2023, it said in a separate disclosure<\/a>. Payments will be made to eligible shareholders on Monday, 25 March.<\/p>\n

\n

ARDCO-<\/p>\n

Arriyadh Development\u2019s net income fell 9.6% <\/strong>y-o-y<\/strong> to SAR 271.5 mn in 2023<\/strong>, while revenues rose 31% y-o-y to SAR 339 mn, it said in a disclosure to Tadawul<\/a>. The company\u2019s BoD has approved a dividend payout of SAR 89 mn at SAR 0.5 per share for 2023, it said in a separate disclosure<\/a>.<\/p>\n

\n

SAUDI CHEMICAL-<\/p>\n

Saudi Chemical\u2019s net income doubled y-o-y to SAR 183 mn in 2023<\/strong>, and revenues rose 31.4% y-o-y to SAR 4.9 bn, it said in a disclosure to Tadawul<\/a>.<\/p>\n

\n

BURUJ-<\/p>\n

Buruj Cooperative Insurance turned into the black with a net income of SAR 20 mn in <\/strong>2023<\/strong>, while revenues declined 10.5% y-o-y to SAR 373 mn, it said in a disclosure to Tadawul<\/a>.<\/p>\n

\n

MULKIA INVESTMENT-<\/p>\n

Mulkia Investment\u2019s net income increased 27.5% <\/strong>y-o-y<\/strong> to SAR 21 mn in 2023<\/strong>, and revenues rose 19% y-o-y to SAR 44 mn, it said in a disclosure to Tadawul<\/a>.<\/p>\n

\n

GAS ARABIAN SERVICES-<\/p>\n

GAS\u2019 net income increased 21% y-o-y to SAR 81.5 mn in 2023<\/strong>, and revenues rose 45.5% y-o-y to SAR 721.5 mn, it said in a disclosure to Tadawul<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

Saudi Tadawul Group Holding (Tadawul) | Elm Company | Arriyadh Development Company (ARDCO) | Buruj Cooperative Insurance | Saudi Chemical Company | Mulkia Investment<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2607],"tags":[1436,2756,285,2755,10,1269,1249,2694,2668],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84224","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-arriyadh-development","tag-buruj","tag-earnings-watch","tag-elm","tag-enterpriseam-ksa","tag-gas-arabian-services-gas","tag-mulkia-investment","tag-saudi-chemical","tag-tadawul-group","wpautop","entry"],"acf":{"mongo_id":"c70511ea-a485-4e59-bbcf-e72647f03a88","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"The latest earnings roundup as FY 2024 season continues in Saudi Arabia","related_issue":[84217],"teaser":"Saudi Tadawul Group Holding (Tadawul) | Elm Company | Arriyadh Development Company (ARDCO) | Buruj Cooperative Insurance | Saudi Chemical Company | Mulkia Investment","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.04ed2d38-c87b-4787-acb3-3b6bf6bdab2e.mp3"},"yoast_head":"\nStill earnings news - 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