Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

BinDawood’s H1 profit tumbles

The company attributed the weak figures to lower gross profit and higher operating expenses. (Asia Newsday)
By TRENDS Desk
August 24, 2022 1:18 pm
  • The company's board proposed a half-year cash dividend payout of $27 million at SR0.9 per share
  • Its sales and revenues surpassed $640 million during the first half of the current year

BinDawood Holding Company has reported a 31 percent dip in H1 profit to $28.80 million, compared with the profit of $41.86 million for the same period of the last year.

The company said the weak figures resulted from a dip in gross profit and and an increase in operating expenses.

The company’s board proposed a half-year cash dividend payout of $27 million at SR0.9 per share, bourse filings show.

Its sales and revenues surpassed $640 million during the six-month period.

The company CEO, Ahmad BinDawood, said.“Our strong start to the year in terms of sales has been driven by a return of pilgrims for Hajj and Umrah, coupled with marketing and promotions carried out during Ramadan and Back to School seasons.”

[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"]