Revealed: Top 10 companies in Saudi Arabia in 2017

Saudi Arabia once against hosts the Gulf region’s largest listed company in 2017 with Saudi Basic Industries Corporation. SABIC also maintained the top position in terms of earnings in the first half.

However, the wider stock exchange has not had a good year, down 4.4 per cent in year-to-date terms at the time our list was compiled and experiencing further shocks since then due to an anti-corruption drive that has enveloped businessmen, royals and ministers.

Corporate earnings grew 7 per cent in the first half, with positive momentum mainly coming form the non-oil sector.

READ  Saudi Cinema’s official Twitter account receives warm welcome

There may be some impact next year as the kingdom introduces a 5 per cent value added tax rate alongside the UAE.

TOP 10 COMPANIES IN SAUDI ARABIA
(By market capitalisation as of October 11, 2017. Source: Reuters Eikon, Markaz Research)

1. Saudi Basic Industries Corporation

Market capitalisation: $78.40bn
Sector: Energy – fossil fuels

2. Saudi Telecom Company

Market capitalisation: $36.91bn
Sector: Telecommunications services

2. Al Rajhi Banking & Investment Corporation

Market capitalisation: $27.30bn
Sector: Banking and investment services

READ  Pakistan, Saudi Arabia agree to simplify business visa issuance

4. National Commercial Bank

Market capitalisation: $25.79bn
Sector: Banking and investment services

5. Saudi Electricity Company

Market capitalisation: $25.44bn
Sector: Utilities

6. Jabal Omar Development Co

Market capitalisation: $16.11bn
Sector: Real estate

7. Saudi Arabian Mining Co

Market capitalisation: $15.03bn
Sector: Mineral resources

8. Almarai Co

Market capitalisation: $14.21bn
Sector: Food and beverage

9. Samba Financial Group

Market capitalisation: $12.11bn
Sector: Banking and investment services

10. Saudi British Bank

Market capitalisation: $10.24bn
Sector: Banking and investment services

Source Credit: Gulf Business

Comments

comments

- Advertisement -