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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)