Qatar Exchange's Qtrly Profits Fall 4%

Tadawul Group's profits in Saudi Arabia declined by more than 4% during the second quarter of the year, reaching 92 million riyals. However, they remained above analysts' expectations of 72.4 million riyals, primarily due to a 4.7% increase in operating expenses, especially depreciation and amortization. On the revenue side, it rose by over 1% to 323 million riyals, supported by growth strategies and income diversification, with technology and data services revenues increasing by 13.7%, and non-trading services by 4.2%. The company also announced the purchase of 1.22 million shares for its employee incentive program, financed from internal resources, which will be held for 6 years. Tadawul is one of the leading trading service providers in Saudi Arabia, with a market capital of 14.4 billion riyals and the Public Investment Fund's controlling stake at 60%.

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