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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Luberef’s 9M profit up 2%

Aramco is one of the world’s leading energy and chemicals' companies.
  • The nine-month profit was spurred by lower Zakat and income tax expenses, as Luberef has become subject to tax after listing its shares, Argaam reported.
  • Luberef’s bottom line dropped 25.2 percent quarter-on-quarter (QoQ) from SAR 454.86 million in Q2 2023, hurt by lower base oil crack margins, according to Argaam.

Riyadh, Saudi Arabia — Saudi Aramco Base Oil Co. (Luberef) reported a 2 percent rise in net profit to SAR 1.24 billion ($319.87 million) in the first nine months of 2023, compared to SAR 1.21 billion in the prior-year period.  

The nine-month profit was spurred by lower Zakat and income tax expenses, as Luberef has become subject to tax after listing its shares, Argaam reported.

The third-quarter net profit dropped 28 percent to SAR 340.4 million from SAR 474.79 million in Q3 2022 on lower base oil crack margins despite higher sales.

Luberef’s bottom line dropped 25.2 percent quarter-on-quarter (QoQ) from SAR 454.86 million in Q2 2023, hurt by lower base oil crack margins, according to Argaam.

Total shareholders’ equity, no minority interest, increased to SAR 4.64 billion as of Sept. 30, 2023, from SAR 4.35 billion in the year-earlier period.