153.0000
Change
1.2000
Change %
0.7905%
Open
151.8000
Close
153.0000
High
154.0000
Low
151.6000

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.%
1.1737
0.0023
0.1963%
1.3722
0.0046
0.3356%
Tadawul
11270.57
-40.58
0.36%
22.657
0.356
1.599%
73.349
2.416
3.406%
77.25
1.03
1.35%
1750.925
-5.880
0.335%
 
 
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