NCB Capital keeps Mobily stock under review after weak Q1 results

22/04/2015 Argaam

NCB Capital has said it will keep Mobily's share under review following its disappointing first-quarter results and added that it does not expect the mobile operator to issue a dividend this year.

 

Mobily had  posted a SAR 199 million loss during the period, compared to the SAR 1.6 billion profit in the same quarter last year. The earnings fell below analyst expectations and have raised some concerns over the future performance of the company.

 

NCB Capital said drop in profit was mainly due to lower sales and non-repetitive expenses.

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