Profit doubles in Q1 for stock exchange operator Tadawul

Profit doubles in Q1 for stock exchange operator Tadawul

The operator of the Saudi stock exchange has reported that its profit more than doubled in the first quarter of 2024, with higher revenues across all business segments. The net earnings of Saudi Tadawul Group Holding Company stood at SAR201.5 million ($53.7 million) in the three months to March 2024, compared to SAR90.8 million a […]

Tadawul Group profit close to $54m

Revenue up 73% in Q1 2024

Earnings per share hit SAR1.68

The operator of the Saudi stock exchange has reported that its profit more than doubled in the first quarter of 2024, with higher revenues across all business segments.

The net earnings of Saudi Tadawul Group Holding Company stood at SAR201.5 million ($53.7 million) in the three months to March 2024, compared to SAR90.8 million a year earlier.

Revenue rose 73 percent year on year to SAR387.6 million thanks to higher trading and post-trade services on the Saudi bourse. 

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Capital markets revenue surged 85 percent to SAR133.5 million in Q1 2024. Revenue from the data and technology services segment rose 50 percent year on year to SAR47 million. Revenue in the post-trade segment grew 72 percent annually to SAR207 million, driven by a