TASI’s 21 Listed Companies Profits Rose, in 2021, with a 76% Jump, in Q4

Profits of as many as 21 listed companies on the Saudi stock  “Tadawul” jumped to SR55.4 billion by the end of the Year 2021, an increase of 179.8% over the profits of the same companies, in the Year 2020, at SR19.8 billion.

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On the other hand, the profits of 12 companies, which announced their financial results, rose to SR13.8 billion, at the end of the 4th quarter of 2021, at a rate of 75.6% over their profits, in the same quarter of the Year 2020, at SR7.9 billion.

10 out of the 21 companies achieved an increase in their profits, compared to the 4th quarter of 2020, led by SABIC Agro-Nutrients company, whose profits jumped to SR2.8 billion, or 1083% of the profits of the 4th quarter of the Year 2020, at SR233.6 billion.

Reason for the increase in net profit during that quarter compared to the same quarter of the previous year, is due to the rising average of selling prices of the company’s products, however, the impact of such a rise was limited by an increase, in general, and administrative expenses, as well as an increase in the provision for zakat.

On the other hand, the profits of 8 companies, led by Aslak, decreased by 53.5%, achieving SR7.9 million, by the end of the 4th quarter of 2021, while it recorded SR17 million in the same quarter of 2020.

Both Bank Al-Jazira and Chemanol company succeeded in converting their losses in the 4th quarter of 2020, into profits by the end of the 4th quarter of the Year 2021, while Savola company turned into recording losses compared to profits achieved in the same quarter of the Year 2020.