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Saudi Electricity, Sipchem, Spimaco: Saudi Equity Preview

July 16 (Bloomberg) -- The following stocks may rise or fall in Saudi Arabia’s market. Stock symbols are in parentheses and prices are from the last close.

The Tadawul All Share Index advanced 0.3 percent to 6,508.80 on June 13.

Abdullah A.M. Al-Khodari Sons Co. (ALKHODAR AB): The Saudi Arabian contractor will pay a dividend of 1 riyal a share for the first half of the year. The shares tumbled 4.3 percent to 67 riyals.

Al Jouf Agricultural Development Co. (JADCO AB): The Saudi Arabian producer of olive oil and dairy products said second-quarter profit advanced 26 percent to 15.1 million riyals from a year earlier. The shares rose 1.1 percent to 26.60 riyals.

Eastern Province Cement Co. (EACCO AB): The Saudi maker of building materials posted a 2.9 percent drop in second-quarter profit to 101 million riyals as sales fell and losses at its affiliates increased. The shares rose 0.4 percent to 49.50 riyals.

Jazan Development Co. (GIZACO AB): The developer of farms in Saudi Arabia said it has sold stakes in two Greek companies for 14 million riyals. The shares dropped 0.3 percent to 19.95 riyals.

National Agriculture Development Co. (NADEC AB): The Saudi Arabian producer of dairy products said second-quarter profit rose 60 percent to 19.5 million riyals. The shares rose 3 percent to 27.80 riyals.

Saudi Arabian Amiantit Co. (SAAC AB): The maker of construction materials posted a 15 percent decline in second-quarter profit to 38.9 million riyals from a year earlier. The shares dropped 2.4 percent to 16.60 riyals.

Saudi Automotive Services Co. (SACO AB): The company that operates service stations and restaurants said second-quarter net income rose 35 percent compared with a year earlier. The shares were unchanged at 13.50 riyals.

Saudi Electricity Co. (SECO AB): The state-controlled power producer posted a 25 percent increase in second-quarter profit to 1.34 billion riyals from the year-earlier period. The shares were unchanged at 13.45 riyals.

Saudi Industrial Export Co. (SIECO AB): The company that exports and imports products including fertilizers and chemicals said it had a second-quarter profit of 2 million riyals compared with a 2.9 million-riyal loss a year earlier. The shares rose 1.9 percent to 27.30 riyals.

Saudi International Petrochemical Co. (SIPCHEM AB): The company, also known as Sipchem, posted an 87 percent increase in second-quarter profit to 165.4 million riyals from a year ago. The shares retreated 1.1 percent to 22.10 riyals.

Saudi Pharmaceutical Industries & Medical Appliances Corp. (SPIMACO AB): The company known as Spimaco said second-quarter profit rose 41 percent to 60.8 million riyals from a year earlier. The shares were unchanged at 39 riyals.

Taiba Holding Co. (TIRECO AB): The Saudi Arabian property developer said second-quarter net income almost doubled to 32.2 million riyals from a year earlier. The shares climbed 0.3 percent to 16.75 riyals.

To contact the reporters on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net.

To contact the editors responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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