The Saudi Tadawul Group Holding Co has reported a net profit after zakat of $156.6 million (SAR 587.7 million) in 2021, showcasing a 17.42% year-on-year increase compared to $133.39 million (SAR 500.52 million) in 2020.
The firm’s operating revenues increased by 8.01% year-on-year, reaching to $309.15 million (SAR 1.166 billion) in 2021, compared to $287.56 million (SAR 1.079 billion) in 2020, the company confirmed in a stock market missive.
The revenues were predominantly driven by solid growth in trading services, post trade services, and listing fees, on the back of strong Saudi Capital Market performance in 2021.
The Capital Markets segment revenue, which includes trading services and listing fees, increased by 7.57% year-on-year, reaching to $130.54 million (SAR 489.84 million) in 2021.
The trading services revenue increased by 7.13% year-on-year, reaching $109 million (SAR 409.36 million) in 2021 compared to $101.84 million (SAR 382.13 million) in 2020, driven by an increase in average daily trading values.
The listing fees revenue increased by 9.88% year-on-year reaching to $21.45 million (SAR 80.48 million) in 2021, compared to $19.52 million (SAR 73.24 million) in 2020, mainly driven by an increase in the number and size of listings.
Moreover, the group’s gross profit increased by 8.79% year-on-year reaching $218.7 million (SAR 820.69 million) in 2021, compared to $201 million (SAR 754.40 million) in 2020, due to the increase in the group’s operating revenues.
In addition, the Saudi Tadawul Group’s operating profit increased by 12.64% year-on-year, reaching to $163 million (SAR 611.83 million) in 2021, compared to $144.77 million (SAR 543.16 million) in 2020.
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