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Riyadh-Mubasher: Yanbu Cement's earnings for the first quarter of 2015 were 20.7% lower than forecasts of SAR 250 million, said Alistithmar Capital in a report.
The research firm recommended 'Accumulate' on the stock, with a price target of SAR 74.
Yanbu Cement recorded SAR 207 million in net earnings during the first quarter of 2015, a 0.98% rise year-on-year from SAR 205 million and 7.25% higher quarter-on-quarter from SAR 193 million.
The profit rise was driven by an increase in sales, the cement producer said.
Source:
Mubasher