Saudi Catering’s Q2 2019 earnings in-line with expectations: NCB Capital

The Q2 2019 earnings of Saudi Airlines Catering came in-line with the analysts’ expectations and market consensus, NCB Capital said in a note.

The research firm mentioned that the revenue increase is positive for the catering company. 

“However, the catering contract with Saudia expires by the end of the year. Any developments of the contract renewal will be a key catalyst,” NCB Capital said.

The firm maintained a “Neutral” recommendation on Saudi Catering with a target price of SAR 96.8.