Aldrees anticipates increase in costs of SAR27 million on change in subsidies and tariffs
Aldrees Petroleum and Transport Services Company [4200.SE] expects an increase in operating costs of SAR27 million due to higher energy prices, following the government announcement on changes to tariffs and subsidies. The cost increase will be reflected starting 2016. The company added that a portion of this cost increase could be mitigated by greater efficiencies. (Tadawul) Aldrees: SAR33.78 as of 11 January 2016, Rating: Buy, FV: SAR60.00 per share, MCap: USD360 million, ALDREES AB / 4200.SE
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