The Clap
Saudi Tadawul Group Holding (1111) recorded the lowest quarterly profit since its listing on Tadawul due to the significant increase in its operating expenses, especially the salaries of its employees.
The Deets
The company’s net profit decreased to SAR 89.1 million in Q3 2022, its fourth consecutive quarterly decline.
Expenses
The company’s operating expenses increased by 25% YoY due to increased salary expenses and benefits as a result of more new employees.
Tadawul Group
Tadawul Group plans to enter the debt markets, clarifying that 100% of its revenues come from its subsidiaries “Tadawul” and “Edaa“, according to the company’s president in an interview with Asharq.
The company is waiting for its other two subsidiaries, “Muqassa” and “Wamid“, to begin recording revenues.
