Shares in Saudi's Bupa Arabia rally as first quarter earnings rise | ZAWYA MENA Edition:
Saudi’s Bupa Arabia for Cooperative Insurance Company (Bupa), announced a rise in first quarter earnings for the year 2019, triggering a surge in the company’s shares on Sunday.
Bupa’s Q1 2019 net profit attributable to the company’s shareholders amounted to 23.14 million Saudi riyals ($6.17 million), compared to 20.79 million riyals in Q1 2018, an 11.30 percent increase.
Yazeed Alsaqaaby, research analyst at Al Rajhi Capital, told Zawya by email that the “main reasons behind the bottom-line increase” was an increase in investment and other income and a decrease in provisions for doubtful receivables.
No comments:
Post a Comment