Riyadh – Mubasher: Albilad Capital on Monday forecast that Savola Group will achieve SAR 461 million in profits during 2017, against losses of SAR 451 million during 2016, according to a report.
Revenues are expected to decrease 2.2% reaching SAR 24.75 billion during 2017, from SAR 25.3 billion in the previous year, Albilad Capital added.
The research firm specified Savola’s price target (PT) at SAR 44, with expected negative returns of 8.9%, compared to the current PT, with a "Neutral" recommendation.
Savola’s stock rose 1.59%, closing at SAR 49.10 on Monday.
