“TAM Development” shares rose 3.08% after receiving the award letter

The shares of Tam Development Company, listed on the Saudi stock market, rose by 3.08% at the beginning of trading on the Saudi Stock Exchange to trade at a price of 200.80 riyals per share after the company received a letter awarding a project for the Quality of Life Program.

Trading in Tam Development stock at that time occurred through 16 trading transactions, with 1.28 thousand shares, with a trading value of 256.04 thousand riyals.

The highest share price at that time was 200.08 riyals per share, while the lowest share price was 199.2 riyals per share.

This came after the company announced on the Tadawul Stock Exchange that it had obtained a letter of award for a project for the Quality of Life Program with a total value of 6.79 million Saudi riyals, including value-added tax.

Under the award, consulting services and digital solutions will be provided to design and implement a project for the Quality of Life Program, and the company expects the financial impact to be reflected starting in the first quarter of 2025.

Tam Development Company achieved profits of 40.60 million riyals in 2023, compared to 28 million riyals in profits for the previous fiscal year.