Dallah’s Q2 net profit falls short of forecast: Saudi Fransi Capital

Dallah  Healthcare Holding Co.’s second-quarter net profit (SAR 35.9 million) was 21 percent lower than Saudi Fransi Capital’s estimate and 13 percent below a consensus forecast, the brokerage firm said in a report.

The investment arm of Banque Saudi Fransi maintained a “hold” rating on the stock and reduced its target price to SAR 140 from SAR 145.

The launch of operations at Dallah’s children’s hospital in Riyadh and outpatient clinics may support the stock’s performance in the medium term, the report added.