Riyadh – Mubasher: Al-Jazira Capital issued a report on Q4-15 financial results of Sipchem and Sahara Petrochemicals.
Spichem’s Q4 net profit recorded SAR26 million, falling below the research firm’s estimate of SAR36.8 million.
Meanwhile, Sahara suffered a net loss of SAR47.9 million, versus projected net profits of SAR81.1 million.
Al-Jazira maintained an “Overweight” recommendation on both stocks, setting the target price of Sipchem and Sahara at SAR13.9 and SAR10.75 respectivley.
