FINANCIAL NEWS

Saudi sales of multiple investment firms fall by 8.5 percent

22 Jun 2016

(MENAFN) Sales of the listed multiple investment firms in KSA declined by 8.5 percent to USD0.37bn in Q1 this year compared to USD0.41bn in 2015.

Additionally, net profits of the investment sector fell by 68 percent to USD19.72mn compared to USD61.29mn.

The investment sector contains seven firms whose market capitalization reached USD12.25bn, or 3.1 percent of the Saudi equity market.

The kingdom Holding Co. reached 46 percent of the sector’s whole sales at USD170.31mn in Q1, 2016 compared to USD190.56mn in Q1, 2015.

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