BUZZ-Saudi's Aldrees rises as Q2 profit jumps past expectations
ALDREES 4200.SA | 0.00 |
** Saudi fuel retailer Aldrees Petroleum and Transport Services 4200.SE rises as much as 10%, before paring gains to trade up 7.5% at 115.3 riyals, making it the second-best performer on the benchmark index .TASI
** Stock on track for its biggest one-day gain since December 2023, if trend holds
** Reports Q2 profit of 123.9 mln riyals ($33 mln), up more than 28% year-on-year and ahead of the mean analyst estimate of 116 mln riyals, as per data compiled by LSEG
** Co attributes gains to higher sales in its petrol and transport divisions, as well as increased income from bank deposits, sukuk investments and other income
** Of seven analysts covering the stock, four rate it "hold" and three "buy" or better; median PT 135 riyals - LSEG-compiled data
($1 = 3.7543 riyals)
