A monitoring detection conducted by “Okaz”; Based on the annual results of the companies listed in the Saudi market, the profits of the listed companies increased during the past year 2022 by 41.73%, following the end of the companies’ announcements period at the end of the first quarter yesterday (Friday).
According to the monitoring of 211 companies listed on the main stock market (TASI), the total profits achieved from those companies amounted to about 756.33 billion riyals, with an increase in revenues equivalent to 222.7 billion riyals compared to 2021.
Monitoring indicated that there were 102 companies that recorded a growth in their profits, as the total profit growth of those companies amounted to 242.39 billion riyals.
As for the companies that were able to convert their losses into profits, their number reached about 13 companies, and the total excess profits for the year 2022 compared to the losses recorded in 2021 amounted to about 1.58 billion riyals, while 43 companies made profits last year, but they shrank compared to the previous year and the value of the decline in profits amounted to About 12.9 billion riyals.
25 companies were able to reduce their losses by the equivalent of 1.51 billion riyals, while the profits of 15 companies in 2021 turned into losses in 2022, and the value of those losses amounted to about 9.26 billion riyals, and 13 companies recorded an increase in their losses by the equivalent of 626.29 million riyals.
And according to the financial market system, companies are required to announce their results for the fourth and annual quarters that correspond to their financial statements with the Gregorian year during the first quarter of the following year. It resumes its trading for 20 sessions before it is suspended until the financial results are fully announced.
Immediately after the end of the annual results announcement period, the announcements of the first quarter of the new year begin, and they continue for 30 trading sessions.
Abdul Rahman Al-Misbahi (Jeddah) @ sobhe90