Saudi stock exchange: Tadawul reports 17% profit hike in 1st post-listing results

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Saudi stock exchange Tadawul Group reported a 17-percent increase in annual profit to SR587 million ($157 million) in its first post-listing earnings announcement, according to a bourse filing.

Tadawul, which owns and operates the Kingdom’s bourse, reached SR587 million ($157 million) in net profit, up from SR500 million a year earlier, according to a bourse filing.

This came in line with an 8-percent rise in revenue to SR1.17 billion during the year due to “solid growth in trading services, post-trade services, and listing fees on the back of strong Saudi capital market performance in 2021.” With strong earnings, the company’s board proposed an annual dividend payout of SR3 per share.—Arab News

 

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