Riyadh-Mubasher: Yanbu Cement Co. posted SAR 209 million in net earnings for the fourth quarter of 2015, which were in line with estimate of SAR 205 million, Al Rajhi Capital said in a report.
The company’s gross profits improved 6.7% y-o-y to SAR 224 million, which were slightly below estimate of SAR 229 million, the research firm added.
Operating profits of SAR 212 million were in line with forecasts as well.
"Yanbu has been one of our favourite stocks in the cement sector since it was located in the strategic Western region," Al Rajhi Capital said.
The think tank continues with its 'Overweight' rating on Yanbu, with a target price of SAR 54.
