Riyad Cap says Almarai Q2 results below estimates, maintains ‘Neutral’ rating

29/07/2021 Argaam

Almarai office

Saudi dairy producer, Almarai Co.’s, Q2 2021 results came below Riyad Capital and consensus estimates, the brokerage firm said in an earnings review.

 

Gross profit of the company decreased by 12% year-on-year (YoY) due to structural adjustment related to the reduction of subsidies, and the increase in the feed cost as now all alfalfa consumed is 100% imported and adverse channel mix.

 

Riyad Capital maintained its rating at ‘Neutral’, without changing the target price (TP) of SAR 59/share.

 

A ‘Neutral’ recommendation means that the total expected returns range between +15% and -15%.

Riyad Capital - Almarai 29/07/2021

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.