Saudi Fransi lowers Northern Cement to ‘hold’ after Q1 results

19/04/2015 Argaam
Saudi Fransi Capital said it has lowered Northern Region Cement’s rating to hold from buy after the company’s first quarter net profit fell short of expectations. 
 
The cement producer posted a 17 percent drop year-on-year in Q1 net profit to SAR 51 million. 
 
Northern Cement’s target price was also set at SAR 23.50. 

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