Tomorrow, Sunday, the Saudi stock market awaits Saudi Aramco’s disclosure of financial results and dividends for the first quarter of 2022, before the market opens.
The preliminary report for the first quarter of 2022, which contains the full financial statements, will be published on Monday, May 16, 2022.
Aramco previously stated that there will be no electronic broadcast of the results of the first quarter of 2022, and the electronic broadcast will coincide with the announcement of the semi-annual results in August 2022.
The Saudi oil giant had achieved a jump in net profit in 2021 by 124.4%. The company said that its net profit amounted to 412.4 billion riyals last year, compared to 183.76 billion riyals during 2020, which represents an increase of more than double.
The increase primarily reflected the impact of higher crude oil prices, the consolidation of SABIC’s full-year business results, and the significant increase in profit margins from the refining and chemicals business.
