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TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

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.

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