The real estate management and development sector tops the list of companies whose profits declined during the second quarter of 2022; with profits falling to 50 million riyals compared to approximately 400 million during the same period last year.

Meanwhile, the basic materials sector’s profits reached approximately 18.2 billion riyals, representing a growth rate of 25.4%, benefiting from the profits of petrochemical companies, which totaled 14.9 billion riyals.
As for the banking sector, it posted record profits after recording 34.1% growth due to lower provisions and higher operating income, with profits reaching 15.1 billion riyals.

The telecommunications sector recorded 3.3 billion riyals, a 7.6% increase, while the food production sector’s profits reached 878 million riyals, and the food retail sector’s profits stood at 566 million riyals.