Sulaiman Al Habib loses 1.7 billion riyals in 5 hours

A monitoring conducted by Maaal newspaper revealed a decrease in the market value of Sulaiman Abdulaziz Sulaiman Al Habib’s ownership, Dr. Sulaiman Al Habib Group, to 40.156 billion riyals, by 1.68 billion riyals from its value in the previous session, which was 41.8 billion riyals.

The decrease in the market value of Sulaiman Al Habib’s ownership comes as a result of the group’s share declining by 12 riyals, or 4%, during today’s session, Sunday, December 22, 2024, which lasted for 5 hours.

Despite the decline, Sulaiman Abdulaziz Sulaiman Al Habib continued to top the list in terms of market value as the largest wealth of individual investors in the stock market with ownership amounting to a market value of 40.2 billion riyals, as he owns 40.03% of the shares of Dr. Sulaiman Al Habib Group.

It is noteworthy that the stock has achieved gains of about 4.7% in the last 52 weeks, and the highest price it reached was 346.8 riyals on February 20 of this year, while the lowest price it recorded was last August when it reached 258 riyals per share.

The group achieved profits of about 1.7 billion riyals by the end of the first 9 months of this year, an increase of 11.9% over the profits of the same period of this year, which were 1.5 billion riyals.

According to the company, the increase in net income during the period ending September 30, 2024 is due to an increase of 11.87%, reaching 1,701.52 million riyals, as it maintained a net income margin of 21.08% compared to 21.66% during the same period of the previous year, as net income increased mainly as a result of revenue growth and an increase in the number of auditors.