Riyadh – Mubasher: Albilad Capital said in a report that Mobily’s FY15 revenues came 0.5% higher than its expectations.
The research firm set the stock’s fair value at SAR28, with 24% upside potential, and recommended “Overweight” .
The company is expected to turn profitable in FY16 on more cost control and absence of one-off items.
The telecom operator posted SAR 11 million profits in Q4, against a net loss of SAR2.10 billion in the year-ago period.
Meanwhile, FY15 net loss shrank by 30.6% year-on-year to SAR1.09 billion.
