Saudi Equity Movers: Saudi Cement, Halwani, Amiantit, Kingdom
Abdullah Al-Khodari Sons Co. (ALKHODAR AB) rose 2.7 percent, the biggest intraday gain since March 26, to 65.75 riyals. The Saudi Arabian general contractor won a contract valued at 66.2 million riyals ($17.7 million) from the Ministry of Municipal and Rural Affairs to develop a crossroads in Asir province bordering Yemen.
Halwani Brothers Co. (HB AB) climbed 10 percent, the largest gain in 25 months, to 36.4 riyals. The Saudi food processing company said first-quarter profit rose to 21.7 million riyals from 21 million riyals the year earlier.
Kingdom Holding Co. (KINGDOM) tumbled 4.4 percent, the most since March 15, to 8.70 riyals. The investment company controlled by billionaire Prince Alwaleed bin Talal said it’s willing to give up disputed land in Egypt in return for investments the Saudi company had made.
National Shipping Co. (NSCSA AB) rose 1 percent to 15.05 riyals. The Saudi operator of crude oil and chemical tankers said it received a chemicals tanker from South Korea’s SLS Shipbuilding Co.
Saudi Arabian Amiantit Co. (SAAC) dropped 1.7 percent, the most since April 5, to 17.15 riyals after the producer of building materials said its first-quarter profit fell 31 percent to 34.3 million Saudi riyals.
Saudi Cement (SACCO) Co gained 2.8 percent to 55 riyals, the highest level since March 23. Saudi Arabia’s second- biggest cement producer by market value said first-quarter profit rose 19 percent to 210.8 million riyals as domestic demand grew.
Yanbu Cement (YNCCO) Co advanced 1.1 percent to 44.40 riyals. The Saudi Arabian cement maker said its first-quarter profit fell 18 percent to 101.1 million riyals due to lower sales and a furnace stoppage for maintenance.
To contact the reporter on this story: Mourad Haroutunian in Riyadh at email@example.com
To contact the editor responsible for this story: Shaji Mathew at firstname.lastname@example.org