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Saudi Equity Movers: Al-Khodari, Saudi Cable, Public Transport

By Mourad Haroutunian - Apr 30, 2011

The Tadawul All Share Index (SASEIDX) dropped 0.2 percent to 6,710.56 at the 3:30 p.m. close in Riyadh. The following stocks rose or fell in Saudi Arabia’s market.

Aseer (ATTMCO) Company for Trading, Tourism, Agriculture, Real Estate & Contracting (ATTMCO AB) gained 1.1 percent to 13.60 riyals after shareholders approved paying a 2010 dividend of 0.75 riyals ($0.20) a share.

Abdullah Al-Khodari Sons Co. (ALKHODAR AB) strengthened 0.8 percent to 61.75 riyals. The general contractor won a 108.7 million-riyal contract from Ma’aden Aluminum Co. to build a piping network at the Ras Al Zour aluminum smelter.

Saudi Cable Co. (SCACO) advanced 2.4 percent to 15.2 riyals, the highest level since Oct. 11. The company said it expects sales to double in 2011 from last year and profitability will “continue to improve.”

Saudi Public Transport Co. (SAPTCO) rose 0.7 percent to 7.25 riyals. The bus operator, known as Saptco, signed a deal valued at 14.7 million riyals to buy 50 Mercedes trucks to expand its cargo fleet. Saptco said the deal will have a positive impact on its revenue from the fourth quarter.

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.