173.4000
Change
-0.4000
Change %
0.2301%
Open
173.8000
Close
174.0000
High
175.2000
Low
172.2000

NCB Capital expects 95.5%, 20% growth in SAFCO’s profits during 2018, 2019

2018-12-18 14:35:18 GMT (Economies.com)
 

NCB Capital said in a report on Saudi Arabian Fertilizers Co. (SAFCO) the company will likely generate SAR 1.7 billion profits in 2018, with a rise of 95.5% year-on-year from SAR 879 million.

 

The research arm of National Commercial Bank also forecast the company’s profits to increase by 20% year-on-year in 2019 to SAR 2.06 billion.

 

It pointed out that such a rise will be backed by an increase in Urea prices, and higher operation rates.

 

According to the report, operation rates are expected to rise to 100% in 2019, compared with 98% in 2018 and 86.2% in 2017, following the main maintenance works carried out in 2017.

 

NCB Capital maintained its “Neutral” recommendation on SAFCO’s stock, with a target price of SAR 74.6, compared to the stock’s market price of SAR 80.10 as an intraday high for today’s session. 

 
 
 
  Symbol Last Change Chg.%
1.1613
0.0002
0.0168%
1.3765
0.0026
0.1878%
Tadawul
11861.19
15.26
0.13%
24.427
1.114
4.778%
84.685
1.339
1.607%
86.21
0.66
0.77%
1801.540
31.800
1.797%
 
 
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