Budget Saudi 2Q16: Flattish earnings on lower short-term rental revenue, below forecast
Reported net profit: SAR46.7mn, +2% Y-o-Y, -5% Q-o-Q, -7% vs. EFGe Gross profit: SAR34.5mn, +1% Y-o-Y, -1% Q-o-Q, -15% vs. EFGe Operating profit: SAR14.3mn, -9% Y-o-Y, -17% Q-o-Q, -32% vs. EFGe Budget Saudi posted KPIs for 2Q1
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