Saudi Cement's Q2 net profit misses estimates: Alistithmar Capital

23/07/2015 Argaam

Saudi Cement Company’s Q2 net profit at SAR 254 million fell short of Alistithmar Capital’s expectations of SAR 293 million by 13 percent, the brokerage firm said in a report.

 

Meanwhile, the investment arm of Saudi Investment Bank upgraded the stock to “buy” from “neutral” and left its target price unchanged at SAR 113.

 

The kingdom's largest cement producer is expected to offset lower sales volumes with its exports.

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