Almarai office
Saudi dairy producer, Almarai Co.’s, Q2 2021 results came below Riyad Capital and consensus estimates, the brokerage firm said in an earnings review.
Gross profit of the company decreased by 12% year-on-year (YoY) due to structural adjustment related to the reduction of subsidies, and the increase in the feed cost as now all alfalfa consumed is 100% imported and adverse channel mix.
Riyad Capital maintained its rating at ‘Neutral’, without changing the target price (TP) of SAR 59/share.
A ‘Neutral’ recommendation means that the total expected returns range between +15% and -15%.
Comments
{{DisplayName}}
{{ElapsedTime}}