SIIG Q2 profit beats estimates: Saudi Fransi Capital

23/07/2015 Argaam

Saudi Industrial Investment Group’s (SIIG) Q2 profit exceeded estimates set by Saudi Fransi Capital, the brokerage firm said in a report.

 

The investment firm affirmed its “buy” recommendation on the stock with a target price of SAR 31 per share.

 

Saudi Fransi Capital added that improved performance of the group’s units was the main driver of its profit increase.

 

SIIG, a diversified petrochemical producer, reported SAR 339 million earnings in Q2-2015.

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