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Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

Axa insurance Q3 premiums down 7 percent

Axa said the fall in net profit can be attributed to the overall decrease in insurance results.
By TRENDS Desk
November 7, 2021 3:42 pm
  • The firm's total comprehensive income also dropped 36 percent to 38 million riyals.
  • Axa said the fall in net profit can be attributed to the overall decrease in insurance results and an increase in investment income.

A fall of 7 percent in gross written premiums in the third quarter of 2021, as compared to a year earlier, led to a decline in the earnings of Axa Cooperative Insurance, a Saudi-listed  insurer.

The company said in a Tadawul filing that its net profit for the Q3 was 45.44 million riyals ($12.1 million), down by 18.34 percent from 55.6 million riyals in the same period last year.

The firm’s total comprehensive income also dropped 36 percent to 38 million riyals. Its net written premiums also fell 5.8 percent to 326.9 million riyals.

Axa said the fall in net profit can be attributed to the overall decrease in insurance results and an increase in investment income.

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