#Saudi Tadawul posts 17.4% jump in 2021 profit amid buoyant market | Reuters

Saudi Tadawul posts 17.4% jump in 2021 profit amid buoyant market | Reuters

Saudi Tadawul Group (1111.SE), the bourse's owner and operator, posted a 17.4% rise in full-year net profit in 2021, fuelled by the strong performance of the Saudi capital market last year.

Tadawul, which listed in December last year, reported a net profit of 587.7 million riyals ($156.64 million) for the period ended December, up from 500.52 million riyals a year earlier.

Operating revenue increased by 8.01% from a year earlier driven by solid growth in trading services, post trade services, and listing fees, Tadawul said.

Saudi Arabia has witnessed a surge of IPOs since it listed oil giant Saudi Aramco (2222.SE) in a record $29.4 billion listing in 2019.