Riyadh – Mubasher: The stock of the Saudi Company for Hardware (SACO), listed on the Saudi Stock Exchange (Tadawul), rose on Thursday, topping gainers and reaching a 16-month record high.
By 12:49 pm Saudi time, the stock grew 3.3% to SAR 101, its highest level since December 2015, and marking its eighth gain in a row.
Turnover on the stock reached SAR 9.17 million after 91,130 shares were traded through 426 transactions.
In the meantime, the benchmark Tadawul All Shares Index (TASI) edged up 0.01% or 0.72 points to 7,099.85 points.
SACO’s extraordinary general meeting (EGM) is scheduled to convene on Thursday, 4 May, to approve dividends for 2016 and 2017, as well as discuss the company’s financials for 2016.
SACO last reported SAR 126.18 million in profits for 2016, compared to SAR 126.11 million in 2015.
