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Tadawul market shaves 9,000 as Saudi Airlines Catering Company convinces with solid earnings

: Sunday, February 23 - 2014 @ 17:56

The Tadawul All Share Index closed 0.40 per cent higher at 9,023.42 points on Sunday, February 23. SABIC added 0.44 per cent to SAR114.75. Saudi Airlines Catering Company edged up by 0.85 per cent to SAR148.00. Earlier in the day, the firm said that its net income in 2013 amounted to SAR569.35 million ($153.72m), up by 16.9 per cent year on year. The firm said in a filing to the Riyadh-based Tadawul bourse that the main contributor to the positive results in 2013 “was the increase in total revenues by 11 per cent from SAR1.687 billion in 2012 to SAR1.867bn in 2013. Saudi Catering Company continued its growth momentum in the airline sector and, in addition to the strategy to diversify the business, contributed a significant increase of 18 per cent in the non-airline revenues”.

Gérard Al-Fil

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Sunday, February 23- 2014 @ 17:56 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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