Riyadh –  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.

Source: Mubasher

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