(MENAFN) The profits of Saudi listed companies registered an increase by 4 percent by the end of 2014 to reach USD30.43 billion as compared with USD29.32 billion recorded at the end of 2013, with their capitals standing at USD129.75 billion and their market capitalization reaching USD483.42 billion in 2014, Arab News reported.
Among the companies, the Saudi Electricity Company (SEC) remained the biggest listed company in terms of capital, with its capital reaching USD10.93 billion, followed by Saudi Basic Industries Corporation (SABIC) at a capital of USD7.96 billion.
These companies were then followed by Saudi Telecom Company (STC), with its capital standing at USD5.31 billion and then Bisha Agricultural Development Company (BADC), which had the least capital of USD13.28 million.
In terms of profit, SABIC topped the list by recording the highest profits in 2014 despite it decreasing 7.32 percent compared with 2013, with its profit hitting USD6.22 billion compared to USD6.70 billon due to drop by 29.22 percent in its profit during the October-December period to USD1.15 billion compared USD1.63 billion in the same period last year.
STC ranked second of having the biggest profits, which hit USD2.92 billion in 2014 compared to USD2.65 billion in 2013, thus recording an increase of 11.23 percent, while its profits for the fourth quarter dropped by 32.6 percent to USD648.10 million compared to USD961.52 million posted during the same period in 2013.
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