Saudi Fransi Capital says Saudi Cement profit tops expectations; affirms ‘buy’

15/04/2015 Argaam
Saudi Fransi Capital said Saudi Cement’s first-quarter net profit came ahead of its estimates and the average forecasts by 10 percent. 
 
The cement producer saw its net profit rising six percent year-on-year to SAR 303 million in first quarter from SAR 286 million.  
 
The investment bank reaffirmed its ‘buy’ recommendation on the stock at a target price of SAR 113.

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