Al Othaim’s Q2 net profit in line with forecast, says Albilad Capital

27/07/2015 Argaam

Abdullah Al Othaim Markets Co.’s (Al Othaim) second-quarter net profit (SAR 55.7 million) was in line with Albilad Capital’s estimate, the brokerage firm said in a report.

 

Earnings growth during the quarter was said to be supported by strong demand during Ramadan, in addition to higher investment income and non-operating income.

The investment arm of Bank Albilad maintained a "neutral" rating on the stock and set its target price at SAR 110.

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