Special Report - (Namazone):
The Saudi Stock Exchange is awaiting, during the next few days, the announcement of 30 companies, their financial results for the year 2019, in light of the approaching deadline for completion.
The deadline granted by the Saudi Capital Market Authority to listed companies to announce their financial results for the past year, estimated at 3 c months, will expire on Tuesday, March 31.
>According to the data available on the website (Namazon), 145 companies announced their financial results until the end of the Thursday, March 26th session, out of a total of 175 companies, whose fiscal year ends at the end of December of Every year.
The combined profits of the declared companies decreased by 18.5% to about 409 billion riyals in 2019, compared to 502 billion riyals, the total profits of those companies in the year 2018.
The list of companies that are late in announcing their financial results for 2019 include major companies, such as Saudi Real Estate, Jabal Omar, Kingdom Holding, Industrialization, and Alujain.
Alujain Holding
The company expected that it had received the financial statements of the company, on Tuesday, March 24, 2020, and the company’s external auditor would not be able to complete all the audit requirements before the deadline.
real estate companies
The late company’s list included two companies in the real estate sector, which is the Saudi Real Estate Company, and Jabal Omar Development Company.
The profits of the Saudi Real Estate Company during the third quarter of 2019 decreased by 29% to 9 million riyals, compared to 12.7 million riyals in the third quarter of 2018.
The company's profits during the first nine months of 2019 amounted to about 49 million riyals, compared to 87.6 million riyals for the same period in the previous year, a decrease of 44%. p>
Jabal Omar Development turned to losses during the third quarter of 2019, with a net loss of 80.62 million riyals, compared to profits of 469.62 million riyals for the second quarter ...
