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Earnings news from mining, healthcare, and ins. sectors.
NAHDI-
Nahdi Medical’s net income remained basically unchanged, inching up 0.5% y-o-y to SAR 892.6 mn in 2023, while revenues inched up 1% y-o-y to SAR 8.7 bn, it said in an earnings release (pdf). The company’s BoD decided to distribute SAR 390 mn in dividends for 2H 2023 at SAR 3 per share, it said in a disclosure to Tadawul. Eligible shareholders can cash out on Tuesday, 2 April.
ARABIAN DRILLING-
Arabian Drilling’s net income increased 8% y-o-y to SAR 605 mn in 2023, and revenues were up 29% y-o-y to a record high of SAR 3.5 bn on the back of higher rig activity and improved utilization rate, it said in an earnings release (pdf). The company’s BoD approved a dividend payout of SAR 225 mn for 2H 2023 at SAR 2.53 per share to be distributed on Tuesday, 2 April, it said in a disclosure to Tadawul.
ENAYA-
Saudi Enaya Cooperative Ins. turned into the black with a net income of SAR 20 mn in 2023, after accumulating net losses worth SAR 6 mn in the previous year, it said in a disclosure to Tadawul. Meanwhile, revenues were up 10.6% y-o-y to SAR 251 mn in 2023.
SARCO-
Saudi Arabia Refineries’ net income fell 73% y-o-y to SAR 7.7 mn in 2023, and revenues were down 54.6% y-o-y to SAR 15.6 mn, it said in a disclosure to Tadawul. The refinery company attributed fall in revenues to higher dividend payouts which amounted to SAR 15 mn last year.
CHUBB-
The net income of CHUBB Arabia Cooperative Ins. increased 2x y-o-y to SAR 24.8 mn in 2023, and revenues were up 10% y-o-y to SAR 329 mn, it said in a disclosure to Tadawul.
UNITED MINING-
United Mining Industries’ net income increased 12% y-o-y to SAR 35.8 mn in 2023, while revenues dipped 0.6% y-o-y to SAR 240 mn, it said in a disclosure to Tadawul. The company’s BoD decided to distribute SAR 9.8 mn in dividends for 2H 2023 at SAR 0.7 per share, it said in a separate disclosure. Eligible shareholders can cash out starting Monday, 1 April.
SIIG-
Saudi Industrial Investment Group’s net income fell 59.6% y-o-y to SAR 112 mn in 2023, it said in a disclosure to Tadawul. The investment firm said its revenues are not included in its financial statement since it follows the equity method to calculate its investments in joint ventures.
