Advanced CEO: 2Q17 earnings were better than expected, the company to explore several expansion options
In an interview with Argaam, Advanced CEO Khalifa Abdullatif Al-Mulhim announced that management was pleased with the recent 2Q17 results as they came in above expectations. He stated that Advanced is studying several expansion options, which would include either buying stakes in presently operating companies, or forming new partnerships to build new plants. Finally, Al-Mulhim noted that the decrease in propane prices Q-o-Q was one of the main reasons for the improvement in profitability.
Advanced: SAR45.93 as of 06 Jul 2017, Rating: Buy, TP: SAR53.00/share, MCap: USD2,410mn, APPC AB/2330.SE
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