Riyadh-Mubasher: Saudi Fransi Capital (SFC) said Northern Region Cement’s Q4-15 earnings of SAR 40 million were below its and consensus estimates by 32%.
The research firm has cautious outlook for the sector, especially amid demand slowdown and new expansions.
The cement prices are expected to decline by nearly 7% in 2016, SFC said.
The think tank recommended ‘Sell’ on the stock, setting the price target at SAR 9.
Northern Cement reported an increase of 53.46% in Q4-15 net profits to SAR 39.61 million, compared with SAR 25.81 million in the similar period of the previous year.
