The share of Bupa Arabia Cooperative Insurance fell at the end of trading on the Saudi stock exchange on Wednesday, losing about 14 riyals in a single session to close the day's transactions at the level of 194.0 riyals. The sharp decline in Bupa Arabia's share came after the Saudi insurance company released its annual financial performance report for the past year, which showed a decline in annual net revenues by 7.93% year-on-year, as well as an increase in operating expenses by 10.05%, raising expectations in the Saudi market that Bupa Arabia's financial performance may be adversely affected in the first quarter of this year. At the same time, the disclosure revealed an increase in net annual profit - after deducting zakat and tax - by 24.02% during 2024, reaching 1,166 million riyals, compared to a net profit of 940.16 thousand riyals that Bupa Arabia achieved in 2023. Additionally, earnings per share increased last year to reach 7.79 riyals, up from earnings per share of 6.29 riyals during 2023. At the close of trading on the Saudi stock exchange today, the share of Bupa Arabia Cooperative Insurance (TADAWUL: 8210) fell by 7.09%, losing 14.8 riyals by the end of the session, closing at the level of 194.0 riyals.
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