November 5th, 2018 | 0 commentsAlmarai Company on Sunday announced that it has stopped the production of alfalfa and green forage in Saudi Arabia. The Gulf's largest dairy company’s decision is in accordance with the terms of the Ministerial Council Resolution (66) dated 7 December 2015 to completely stop the local production of green forage for areas above 50 Hectares...
November 5th, 2018 | 0 commentsJarir Marketing Co. on Sunday posted strong results for the third quarter and first nine months of 2018. The company achieved SAR 288 million ($76.78 million) in net profit after zakat and tax in Q3-18, up 16.84% year-on-year from SAR 246.5 million ($65.72 million). Revenues also grew 16.9% to SAR 1.932 billion in Q3-18 from SAR 1.652 bil...
October 31st, 2018 | 0 commentsArab Cotton Ginning Company (ACGC) on Tuesday reported a 23.7% year-on-year drop in its consolidated financial results for the first quarter of fiscal year 2018/2019. Profits amounted to EGP 166.14 million in the three-month ended September, versus EGP 217.91 million in the prior-year period, ACGC said in a filing to the Egyptian Exchange...
October 30th, 2018 | 0 commentsThob Al-Aseel Company on Monday has reported a 79.1% year-on-year profit decline in the third quarter of 2018. Profits after calculating Zakat and Tax amounted to SAR 1.73 million in Q3-18, compared to SAR 8.27 million during Q3-17, according to a statement to the Saudi Stock Exchange (Tadawul). The firm attributed the third-quarter profi...
October 29th, 2018 | 0 commentsSaudi Company for Hardware (SACO) on Sunday announced the opneing of a new store in Riyadh at Atyaf Mall. Spanning an area of 5,200 square metres, the financial impact of this new store will be reflected in the fourth quarter results of the fiscal year 2018, according to the company’s statement to the Saudi Stock Exchange (Tadawul). The c...
October 26th, 2018 | 0 commentsThe Saudi Industrial Development Company (SIDC) on Thursday announced a 141.67% year-on-year increase in its net losses during the third quarter of 2018, registering SAR 8.7 million from SAR 3.6 million. SIDC attributed the third-qurater loss growth to a rise in operational losses that resulted from lower sales, coupled with higher operat...
October 26th, 2018 | 0 commentsMajid Al Futtaim Group, the Middle East operator of French retailer Carrefour, has announced an investment in the Saudi-based online grocery delivery startup Wadi Grocery, operated by Wadi Group. This investment is part of a $30 million funding round that will boost Wadi Grocery’s growth, the UAE-based retail giant said in a statement. Up...
October 26th, 2018 | 0 commentsEgypt Free Shops on Thursday reported a 68.6% year-on-year rise in standalone profits for the first quarter of fiscal year 2018/2019. The company logged a net profit of EGP 35.46 million in the three-month period ended September, compared to EGP 21.03 million in the same quarter a year earlier, according to a statement to the Egyptian Exc...
October 25th, 2018 | 0 commentsSaudi Printing and Packaging on Wednesday has said that net losses after calculating Zakat and Tax increased by 158.3% to SAR 11.83 million ($3.15 million) by the end of the third quarter of 2018, from SAR 4.58 million ($1.22 million) in Q3-17. The company attributed the loss growth to a rise in prices of raw materials in printing and pac...
October 22nd, 2018 | 0 commentsAl-Futtaim ACE, the subsidiary of Dubai-based giant retailer and developer Majid Al Futtaim, has opened its first store at Ras Al Khaimah’s Manar Mall. This comes as part of the expansion strategy worth of $100 million targeting the mall, operated by Hamra group, according to Al-Futtaim ACE’s statement on Sunday, without illustrating furt...
