Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Alphabet posts first $100 bn quarter

The growth was powered by cloud division buoyed by AI

Nvidia to take stake in Nokia

Nvidia share price soars 20%.

Arriyadh posts 25% net profit

The auctions will be held in Riyadh and Madinah.
By TRENDS Desk
April 20, 2022 8:13 pm
  • The company made SR139 million ($37 million) in profit, compared to SR111 million for the same period a year earlier
  • The Riyadh-based firm attributed the increase in profit mainly to the increase in its share of profits from its associate company by 34 percent

Arriyadh Development Company of Saudi Arabia has reported a 25 percent increase in net profit to $37 million in the  first quarter of 2022 despite a drop of 3 percent in operating revenues.

The company made SR139 million ($37 million) in profit, compared to SR111 million for the same period a year earlier, according to bourse filing.

The Riyadh-based firm attributed the increase in profit mainly to the increase in its share of profits from its associate company by 34 percent.

Despite the profit announcement, its share price fell 0.17 percent at SR28.95, at 1:23 p.m. Saudi time.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]