Saudi Arabia .. The “industrial means” shares reach the highest level in 34 months

The share of the industrial means company listed in the parallel Saudi stock market “growth”, increased by 9.38% in the middle of trading today, Monday, to close at the price of 3.50 riyals per share, and to reach the highest level of 34 months.

The trading on the share of the industrial means at that time came at 3.79 million shares, with a value of trading 12.86 million riyals.

The highest price for the share at that time was at 3.64 riyals per share during the session, while the lowest price per share was at 3.18 riyals per share.

The stock touched the highest price in two years, 10 months and 7 days.

In a separate context, the preliminary financial results of the Industrial Community Company showed an increase in its net profit by 37.28% during the first half of the year 2024 compared to the same period last year.

The company reported that the net profit after zakat and tax amounted to about 24.34 million riyals, compared to 17.73 million riyals in the same period in the previous year.

The company explained that the high profits are due to the returns resulting from the exclusion of investment in the shares of a fully owned by a subsidiary, which is not repeated.

It also indicated that the increase in sales is due to the increase in pipe products by 10%, in addition to increasing the sales of fixture products by 23% compared to last year.