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Almarai's Q1 2021 results meet expectations: Itqan Cap
AI Summary
Almarai office
Saudi dairy producer Almarai Co.'s Q1 2021 results were in-line with forecasts, as the repercussions of the COVID-19 pandemic unfolded, Itqan Capital said in a recent report.
"Going forward, we expect lower subsidies and demand due to expat exodus to continue to pressurize the company’s profitability in the short-term," the report said.
However, margins are expected to normalize in 2021 due to the company’s cost efficiencies, coupled with the economy pick-up, as vaccine rollouts increased across the region.
Itqan Capital recommended 'Neutral' on the stock, maintaining the target price at SAR 54.10.
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منذ 1 سنهالحذر حركات تصريف واضحة السهم مرتفع بقوة ولا توزيعات ارباح فقط مضاربات
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