Riyadh – Mubasher: Yamama Cement’s financial results for the third quarter of 2019 came slightly below Al Jazira Capital’s estimates on lower than expected price realization per tonne, the research firm said in a recent report.
Net profits of the Saudi-based company reached SAR 54.7 million in Q3-19, below Al Jazira Capital’s estimate of SAR 59.2 million.
Meanwhile, revenues stood at SAR 186 million during the three-month period ended September, in-line with the research company’s estimates of SAR 189.1 million.
As for the target price (TP), Al Jazira Capital set the TP of Yamama Cement at SAR 21 per share.
