The Tadawul Group said, in a disclosure to the Stock Exchange, on Sunday, that the net profit for the quarter ending on June 30 fell to 137.7 million riyals ($36.68 million) from 181.1 million riyals in the same period of the previous year.
The group said that operating expenses rose 16.6 percent on an annual basis to 160.6 million riyals in the second quarter due to an increase in salaries and related benefits, which are the largest cost items.
With regard to the first half, the profits of the Tadawul Group declined in the first six months of 2022, to 278.3 million riyals, compared to 362 million riyals in the same period last year, a decrease of 23 percent.
Khalid bin Abdullah Al-Hussan, CEO of the Saudi Tadawul Group, said that the group is working to develop and increase the attractiveness of the Saudi capital market to receive the growing number of initial public offerings, noting that the number of generating companies in the main and parallel markets has reached 246 listed companies.
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