{"id":182757,"date":"2020-12-30T13:03:58","date_gmt":"2020-12-30T13:03:58","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=182757"},"modified":"2020-12-30T13:04:09","modified_gmt":"2020-12-30T13:04:09","slug":"unprecedented-rise-for-food-trade-sector-in-saudi-arabia","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/unprecedented-rise-for-food-trade-sector-in-saudi-arabia\/","title":{"rendered":"Unprecedented rise for food trade sector in Saudi Arabia"},"content":{"rendered":"\n

The Coronavirus pandemic has positively affected the food trade sector in the Saudi markets retails. The sector has witnessed a significant rise exceeding 60% since the beginning of 2020.<\/p>\n\n\n\n

The profits of Tadawul All Share Index (TASI)<\/a> did not exceed 5%.<\/p>\n\n\n\n

However, food sector shares witnessed a remarkable rise, achieving great gains since the beginning of trading this year.<\/p>\n\n\n\n

Regarding the representation of this sector in the Saudi market, it clearly outperformed TASI\u2019s moves, with an increase of nearly 60%.<\/p>\n\n\n\n

It is noted that four companies listed in this sector reflect the growth in performance levels.<\/p>\n\n\n\n

These companies are Farm Superstores, Bindawood Stores, Anaam International, and Abdullah AlOthaim Markets.<\/p>\n\n\n\n

According to Tadawul, the combined profits of all listed companies in food trade sector recorded growth in 9 months at a rate of nearly 44%. The measures taken to confront Coronavirus \u00a0give a strong impetus to this growth.<\/p>\n\n\n\n

There has been a clear increase in food consumption rates.<\/p>\n\n\n\n

The closure resulted in many developments such as population increase.<\/p>\n\n\n\n

The increase in value-added tax has also given a margin of growth in this sector.<\/p>\n\n\n\n

Abdullah AlOthaim Markets<\/strong><\/h5>\n\n\n\n

The company cash distributions reached 270 million riyals.<\/p>\n\n\n\n

As for the movement of shares, they have risen since the beginning of this year by about 50%.<\/p>\n\n\n\n

Sales increased by 11.5%, while the net profit after zakat reached 41%.<\/p>\n\n\n\n

Bindawood Stores<\/strong><\/h5>\n\n\n\n

Bindawood Stores, recently listed in the Saudi market, announced cash dividends in the second and third quarters of a 9% increase.<\/p>\n\n\n\n

Farm Superstores<\/strong><\/h5>\n\n\n\n

In terms of Farm Superstores, Tadawul indicated that the movements of shares exceeded 110%, and even achieved a surge in the rates of increase.<\/p>\n\n\n\n

The company\u2019s profit rate reached about 507.7%, and sales rate increased by more than 22% because the demand increased significantly.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Related:<\/strong><\/p>\n\n\n\n

Pressure On Saudi Banks May Affect Sovereign Rating<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Coronavirus pandemic has positively affected the food trade sector in the Saudi markets retails. The sector has witnessed a significant rise exceeding 60% since the beginning of 2020. The profits of Tadawul All Share Index (TASI) did not exceed 5%. However, food sector shares witnessed a remarkable rise, achieving great gains since the beginning […]<\/p>\n","protected":false},"author":4,"featured_media":182814,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[278,16,576],"class_list":["post-182757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-featured","tag-food","tag-saudi-arabia"],"yoast_head":"\nBNReport - Unprecedented rise for food trade sector in Saudi Arabia<\/title>\n<meta name=\"description\" content=\"Business News Report - Business COVID has positively affected food trade sector in the Saudi markets with rise exceeding 60%\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/unprecedented-rise-for-food-trade-sector-in-saudi-arabia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BNReport - 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