Riyadh – Mubasher: Albilad Capital said that Herfy Food Services Co’s fourth quarter results beat its estimates of SAR 52 million and the market consensus of SAR 48.5 million.
The research firm lowered the fair value estimate for the share from SAR 91 to SAR 85.5 factoring in reduced expectations for the growth of future revenues.
Moreover, Albilad Capital placed a “Neutral” recommendation on the stock, expecting the company’s net profit to reach SAR 232.9 million in 2017.
Herfy Food Services Co’s net profits grew 22.44% to SAR 55.37 million ($14.76 million) in Q4-16 from SAR 45.22 million ($12 million) in Q4-15.
