Yansab’s Q2 net profit beats estimate: Saudi Fransi Capital

15/07/2015 Argaam

Yanbu National Petrochemical Co.’s (Yansab) second-quarter net profit exceeded an estimate set by Saudi Fransi Capital partly due to higher product prices, the brokerage firm said in a report.

 

The investment arm of Banque Saudi Fransi maintained a “buy” rating on the company’s stock at a target price of SAR 59.

 

On Tuesday, Yansab reported a Q2-2015 net profit of SAR 227.4 million, compared to SAR 613 million in the same period last year.

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