Northern Cement's Q2 net profit falls in line with forecasts: Saudi Fransi Capital

Northern Region Cement’s second-quarter net profit (SAR 64 million) was in line with Saudi Fransi Capital’s estimate and consensus forecast, the brokerage firm said in a report.

The investment arm of Banque Saudi Fransi maintained a “hold” rating on the stock and kept its target price unchanged at SAR 23.50.

The cement producer may face refinancing pressures this year due to a lack of cash flow and potential dividend yield risks, the report added.