Saudi Cement’s Q2 results fall short of estimates: Aljazira Capital

22/07/2015 Argaam

Saudi Cement Company’s Q2 profit fell short of Aljazira Capital’s estimates, the brokerage firm said in a report.

 

The investment firm affirmed its “overweight” recommendation on the company’s stock and reduced its target price from SAR 119.3 to SAR 114.1 per share.

 

Aljazira Capital attributed the net profit decline to lower cement sales and lower selling prices

 

Saudi Cement, the kingdom’s largest cement company, reported SAR 254 million earnings in Q2-2015.

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