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Saudi traders monitor stocks at the Saudi Investment Bank in Riyadh. Fahad Shadeed, Reuters Image used for illustrative purpose.
Saudi Arabian aluminium producer Al Taiseer Group Talco Industrial Company (Talco), which listed on Riyadh's Tadawul stock exchange following an IPO in mid-June, posted a 37% rise year-on-year (YoY) in Q2 net profit to 20.87 million riyals ($5.56 million).
However, on a quarterly basis net profit fell 10% to SAR 23.1 million, a bourse filing showed.
Sales revenue came in 5% higher YoY at SAR165.8 million on higher sales of products.
The company sold 30% stake, or 12 million shares, in an IPO.
(Writing by Brinda Darasha; editing by Seban Scaria)
