‎423 billion profits of listed companies on “TASI” profit SR423 ‎bln in H1..Q2 profits jump 71% – Maaal reports

Monitoring conducted by Maaal newspaper revealed that the combined profits of companies listed on the Saudi stock market, which announced their financial results to 423 billion riyals by the end of the first half of this year, increased by 71.5% over the profits of the same companies in the same period of the previous year, which was 246.6 billion Real.

On the other hand, the profits of the companies listed on TASI jumped to 230.3 billion riyals at the end of the second quarter of 2022, an increase of 70.6% from their profits in the same quarter of the previous year, which was 135 billion riyals.

The significant increase in profits is mainly due to the strong jump in Aramco’s results, which achieved 181.6 billion riyals at the end of the second quarter of this year, a rate of 90.3% over the profits of the same quarter of the previous year, which was 95.5 billion riyals, while its profits amounted to 329.7 billion riyals, during the first half of 2022, an increase of 86.4% from the profits of the comparative period of 2021, which was 176.9 billion riyals, attributing the reason for the rise in profits primarily to the rise in crude oil prices and quantities sold, and the high profit margins of the refining business.

According to the quarterly results, 79 companies achieved an increase in the profits of the second quarter of the year 2022, compared to the same quarter of the year 2021, led by Tanmia, whose profits jumped to 30 million riyals, a rate of 783% from its profits in the second quarter of the previous year, which was 3 million riyals, followed by Astra Company with 345%, Dar Al-Arkan with 312.6%, Glass with an increase of 271%, Metals 264.7%, Takaful Island with 263%, SABIC for agricultural nutrients with an increase of 261.8%, and Al-Bahri 229 %.

On the other hand, 47 other companies achieved a decrease in the profits of the second quarter of the year 2022, compared to the same quarter of the previous year, led by the Union Insurance Company, whose profits before zakat fell to 2 million riyals, or 92.1%, from its profits in the second quarter. From the previous year, which was 19 million riyals.

On the other hand, 17 companies succeeded in converting their losses in the second quarter of the previous year into profits by the end of the second quarter of 2022, while 20 other companies turned to recording losses, after achieving profits in the second quarter of 2022.

On sectors, 12 sectors achieved growth in the profits of the second quarter of the year 2022, compared to the same quarter of the previous year, led by the commercial and professional services sector, with a growth of 1038%, followed by capital goods by 156%, and energy by 90%. 4 sectors, led by the Real Estate Administration and Development, declined by 95%, while the losses of the consumer services sector increased by 58%, and the transportation sector turned to recording profits after it achieved losses in the same quarter of the previous year, while the pharmaceutical sector turned into losses.

The profits of petrochemical companies listed on the Saudi stock market “Tadawul” rose to 27.09 billion riyals at the end of the first half of this year, 29.9% higher than the profits of the same companies in the same period of 2021, which was about 20.9 billion riyals. .

Meanwhile, the profits of petrochemical companies increased in the second quarter of 2022 to 14.9 billion riyals, an increase of 17.5% over the profits of the same companies in the comparable quarter of the previous year, which were 12.7 billion riyals.

SABIC’s profits rose to 7.9 billion riyals at the end of the second quarter of this year, an increase of 3.8% over the profits of the same quarter of the previous year, which was 7.6 billion riyals.

According to the quarterly results, 6 of the 12 companies achieved an increase in profits compared to the second quarter of the previous year, led by SABIC Agro-Nutrients Company, whose profits jumped to 3025 million riyals, or 261.8 percent from its profits in the second quarter of 2021, which was 836 million riyals, followed by Nama Chemicals Company, with an increase of 178.6%, and its profits amounted to 27 million riyals, after it achieved 10 million riyals in the second quarter of the previous year

The profits of the banks listed on the Saudi stock market “Tadawul” rose to 29.8 billion riyals at the end of the first half of this year, 28.1% higher than the profits of the same banks in the same period of 2021, which was about 23.25 billion riyals.

On the other hand, the profits of banks in the second quarter of 2022 jumped to 15.1 billion riyals, an increase of 34.1% over the profits of the same banks in the comparative quarter of the previous year, which were 11.26 billion riyals.

According to the quarterly results, all 10 banks achieved an increase in profits compared to the second quarter of the previous year, led by the National Bank of Saudi Arabia, whose profits jumped to 4589 million riyals, or 98.14% from its profits in the second quarter of 2021, which was 2316 million riyals. It was followed by the Arab Bank, with an increase of 49.7%, and its profits amounted to 707.7 million riyals, after achieving 472.8 million riyals in the second quarter of the previous year.

The profits of 3 telecom companies listed on the Saudi stock market “Tadawul” rose to 3.3 billion riyals at the end of the second quarter of this year, a rate of 7.2% over the profits of the same companies in the same quarter of 2021, which was about 3.1 billion riyals.

According to the quarterly results, the three companies achieved an increase in profits compared to the second quarter of the previous year, led by Zain, whose profits rose to 134 million riyals, and a rate of 219.1% compared to its profits in the second quarter of 2021, which was 42 million riyals.