Mubasher TV
Contact Us Advertising   العربية

Yanbu Cement Q1 profits shy of forecasts - Alistithmar Capital

Yanbu Cement Q1 profits shy of forecasts - Alistithmar Capital
Photo Credit: Arabianeye-Reuters
YCC
3060
0.00% 32.25 0.00

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.