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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.

Arabian Drilling to pay $60m dividend

Arabian Drilling Company is one of the largest Saudi onshore and offshore drilling contractor.
By TRENDS Desk
March 18, 2024 11:05 pm
  • The company posted a net profit SAR 605 million in 2023, up 8 percent compared to SAR 558 million in 2022.
  • The fourth-quarter net earnings jumped 34 percent to SAR 183 million from SAR 137 million in Q4 2022.

Riyadh, Saudi Arabia — Arabian Drilling Company has approved a cash dividend of SAR 225. 17 million ($60 million or 25.3 percent) for the second half of 2023.

The dividend will be paid on April 2 and this is the second installment of the total dividend of SAR450.34 million for 2023, the company said in a Tadawul filing.

The company posted a net profit SAR 605 million in 2023, up 8 percent compared to SAR 558 million in 2022.

In a statement to Tadawul, the company attributed the rise in profits to a rise in revenue primarily due to higher rig activity, as well as increased day rates of certain rigs.

Between Q4 2022 and Q3 2023, the company started operating five additional offshore rigs, which boosted its full-year revenue.

The fourth-quarter net earnings jumped 34 percent to SAR 183 million from SAR 137 million in Q4 2022.

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