{"id":92206,"date":"2024-12-04T00:00:00","date_gmt":"2024-12-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/04\/tasheel-drove-growth-in-united-international-holdings-results-in-3q\/"},"modified":"2024-12-04T00:00:00","modified_gmt":"2024-12-04T00:00:00","slug":"tasheel-drove-growth-in-united-international-holdings-results-in-3q","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/04\/tasheel-drove-growth-in-united-international-holdings-results-in-3q\/","title":{"rendered":"Tas\u2019heel drove growth in United International Holding\u2019s results in 3Q"},"content":{"rendered":"

U<\/strong>nited International Holding (UIHC) \u2014 which owns and operates Tas\u2019heel \u2014 <\/strong>logged 11.1% y-o-y growth in net income at SAR 59 mn in 3Q<\/strong>, the firm said in a disclosure to Tadawul<\/a>. UIHC attributed the gains in profitability to a 22.3% bump in revenues at SAR 161.7 mn as Tas\u2019heel\u2019s consumer finance portfolio grew 25% on the back of new Shariah-compliant financing solutions. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

On a 9M basis: <\/strong>UIHC\u2019s net income saw a 0.8% y-o-y uptick at SAR 158.1 mn in 9M 2024 as gains were partially offset by a bump in expected credit loss provisions and selling, general, and administrative expenses during the period. Revenues were up 17.7% at SAR 451 mn on the back of a surge in Tas\u2019heel\u2019s consumer finance portfolio.<\/p>\n

UIHC\u2019s share price <\/strong>rose 30%<\/a><\/strong> \u2014 the maximum daily increase allowed \u2014 to SAR 171.6<\/strong> apiece <\/strong>during its first trading session on Tadawul yesterday.<\/strong> The company sold a 30% stake on the main market late last month<\/a> in an offering which saw its institutional and retail tranches 132x and 9.1x oversubscribed amid strong demand from investors. <\/p>\n","protected":false},"excerpt":{"rendered":"

Gains came largely on the back of Tas'heel's new Shariah-compliant financing options<\/p>\n","protected":false},"author":1,"featured_media":92207,"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":[285,10,2424,208,3526,1260],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam-ksa","tag-finance","tag-fintech","tag-tasheel","tag-uihc","wpautop","entry"],"acf":{"mongo_id":"7aba22af-3997-4903-9483-379bd6e4d044","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1268.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Tas\u2019heel drove growth in United International Holding\u2019s results in 3Q","related_issue":[92193],"teaser":"Gains came largely on the back of Tas'heel's new Shariah-compliant financing options","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.13388118-d3b5-4b08-b904-524b981a7038.mp3"},"yoast_head":"\nTas\u2019heel drove growth in United International Holding\u2019s results in 3Q - 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