Riyadh-Mubasher: Alistithmar Capital recommended 'Buy' on Yamama Cement, slashing the price target to SAR 36 from SAR 50.
The cement producer's Q4-15 gross profits reached SAR 219 million, rising 19% year-on-year and 32% quarter-on-quarter.
Net earnings for the same quarter reached SAR 180 million, up 18.4% year-on-year and 87.5% quarter-on-quarter.
The profit decline was due to the sector's low sale prices in H2-15 on inventory increase, the research firm said.
