* Talal Al-Sayyah from Riyadh
The combined profits of companies listed on the Saudi stock market during the third quarter of this year reached about 32.73 billion riyals.
According to the analysis of the report unit in the newspaper "AlEqtisadiah" that based on Tadawul's corporate announcements and financial statements, the profits during the third quarter of 2018 recorded a growth of 1 per cent (319 million riyals), compared to 32.41 billion riyals during the same period last year.
169 companies announced their results for the period ended September 30, out of 173 companies. The period of announcement of companies ended their results yesterday.
While four companies apologized for not being able to publish the results of their work.
Despite the small growth in consolidated earnings of listed companies in the third quarter of 2018, the rise is considered the highest in the third quarter of 2014.
Consolidated profits for the first nine months of 2018 were about SAR 89.47 billion, compared to SR 88.81 billion during the same period last year, with a registering growth of 0.7 percent.
Despite little growth, consolidated earnings for the first nine months of 2018 are the highest in the nine months since 2014.
According to the report analysis, the consolidated profits during the third quarter grew with support from the rise in the profits of the banking and financial services sector, where the sectors in terms of profits to reach a value of about 12.59 billion riyals, compared to SR11.37 billion in the third quarter of 2017 with a registering growth of 10.7 percent at 1.21 billion riyals.
Secondly, the petrochemical sector, where profits rose from SR 8.84 billion in the third quarter of last year to 9.55 billion riyals during the third quarter of 2018, with a registering growth rate of 8 per cent, an increase of 710 million riyals.
The third growing sector was "Telecommunications" as it profits increased by 261 million riyals from 2.4 billion riyals that was achieved during the third quarter of 2017 to 2.66 billion riyals during the third quarter of this year.
The fourth sector "industrial investment" as the profits of its companies in the third quarter of 2018 were amounted to about 355.3 million riyals, compared to 146.6 million riyals during the same period last year, with a registering growth of 209 million riyals.
And the fifth sector "multi-investment" with a registering growth of 4.2 percent, amounting to 11 million riyals, up from 264.7 million riyals in the third quarter of 2017 to 275.8 million riyals during the third quarter of this year.
The latest sectors that recorded growth in profits were the "Media and Publishing" with a profit of 25.6 million riyals in the third quarter of 2018, compared to 23.1 million riyals in the same period of the previous year, recording growth of 10.9 percent, which worth three million riyals.
On the other hand, five sectors recorded a decline in their profits issued in terms of the lowest value of the sector "agriculture and food industries," where the profits of its companies fell 882 million riyals from SR 1771.1 million in the third quarter of last year to SAR 889 million in the third quarter of 2018, recording a decline of 49.8 percent.
Secondly, the "insurance" sector declined of 408 million riyals from SR 760.3 million in the third quarter of last year to SR 352.2 million in the third quarter of 2018, recording a decline of 53.7 percent.
The third sector was "energy" with a decline of SR 340 million, from 5.3 billion riyals in the third quarter of 2017 to 4.96 billion riyals in the third quarter of this year.
The retail sector comes fourth with a decline by 136 million riyals from 816 million riyals in the third quarter of last year to 680 million riyals in the third quarter of 2018.
The most recent decline in profits was "Transport", where profits fell by 25 million riyals, with a value in the third quarter of 2018 about 315.7 million riyals, compared to 340.6 million riyals in the third quarter of 2017.
As for the rest of the sectors, three sectors recorded losses in the third quarter of 2018, compared to profits recorded in the third quarter of last year, which was headed by the "Hotels and Tourism" sector, with profits in the third quarter of this year of SAR 338.7 million compared to SAR 156.3 million in the third quarter of 2017.
Followed by "Construction" with losses of SR 123.8 million recorded in the third quarter of 2018, compared to a profit of SR 27.1 million during the third quarter of last year.
Then comes the "cement sector" with losses of SR1.1 million that was achieved in the third quarter of 2018, compared to a profit of SR300.3 million recorded in the third quarter of last year.
While "the real estate development sector" is the only sector that posted profits in the third quarter of 2018, compared to losses in the same period last year, with profits in the third quarter of 2018 about 544.1 million riyals compared to losses of 107 million riyals recorded in the third quarter of last year.
* Economic Reports Unit
