NADEC’s Q2 profit tops forecast, says Saudi Fransi Capital

13/07/2015 Argaam

National Agricultural Development Co.’s (NADEC) second-quarter net profit (SAR 35 million) exceeded Saudi Fransi Capital’s forecast, the brokerage firm said in a report.

 

The investment arm of Banque Saudi Fransi (BSF) maintained a “hold” rating on the company’s stock and kept its target price at SAR 36.

 

On Sunday, NADEC reported a 25.4 percent increase in Q2-2015 net profit when compared to Q2-2014 and a 16 percent year-on-year rise in H1-2015 net profit.

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