Al Othaim’s Q2 net profit tops forecast: Saudi Fransi Capital

22/07/2015 Argaam

Abdullah Al Othaim Markets Co.’s (Al Othaim) second-quarter net profit (SAR 56 million) exceeded Saudi Fransi Capital’s estimate by ten percent, the brokerage firm said in a report.

 

The investment arm of Banque Saudi Fransi maintained a ‘buy’ rating on the stock and kept its target price unchanged at SAR 135.

 

Al Othaim’s compound annual growth rate (CAGR) was also estimated at 14 percent for the 2014-2016 period.

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