DUBAI Reuters – Saudi Tadawul Group, the kingdoms stock exchange operator, posted a 21.7 decline in first quarter net profit on Sunday on a slowdown in trading services and listing fees.
The bourse reported a net profit after tax and zakat of 140.6 million riyals 37.48 million in the three months to March 31, down from 179.6 million riyals in the same period last year, according to a bourse filing.
Tadawul went public in December, raising 3.78 billion riyals from investors in a listing that was 121 times oversubscribed.
The Saudi stock market is the Arab worlds largest. Its listed companies have a market capitalisation of nearly 3.2 trillion.