Riyadh-Mubasher: NBK Capital recommended 'Hold' on Saudi Kayan, setting the fair value at SAR 8.10.
Kayan posted net losses of SAR 624.1 million for the fourth quarter of 2015, against net earnings of SAR 11.8 million in the same period last year.
The reported net losses came significantly below the research firm's expectations of SAR 64.8 million and Bloomberg consensus estimate of a net profit of SAR 19.0 million.
The reported Q4-15 net losses are the highest since the company started commercial operations in Q4-11.
