Almarai, Riyad Bank, Saudi Chemical: Persian Gulf Equity Preview
The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.
Almarai Co. (ALMARAI AB): Georges Schorderet, chief financial officer of Saudi Arabia’s largest food producer by market value, said revenue will grow about 15 percent this year.
Separately, Schorderet will step down from his position in the coming weeks while keeping senior operational role in the company. The shares lost 2.4 percent to 92.25 riyals.
National Bank of Bahrain (NBB) : The Bahraini bank said second-quarter profit rose to 10.46 million dinars ($27.7 million) from 10.04 million dinars a year earlier. The shares were unchanged at 0.59 dinar.
Riyad Bank (RIBL) : Saudi Arabia’s third-largest publicly traded lender by market value said second-quarter profit rose to 836 million riyals ($223 million) from 766 million riyals a year ago. The shares increased 0.4 percent to 24.55 riyals.
Saudi Chemical Co. (SCCO) : The company said second- quarter profit fell 12 percent to 76 million riyals from a year earlier as costs and wages rose. The shares were unchanged at 47 riyals.
Saudi Holland Bank (AAAL AB): The Saudi Arabian lender said second-quarter profit rose to 263.3 million riyals from 250.5 million riyals a year earlier. The shares were unchanged at 29.4 riyals.
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