Herfy anticipates SAR6 million cost hike on tariff and subsidy changes; limited impact
Herfy Food Service Company (6002.SE) expects an annual increase in the company’s operating expenses of SAR10 million(c5% of 2014 net income), due to higher utilities costs from the subsidy and tariff changes announced by the Saudi government on 28 December 2015. The cost increase will be reflected starting 2016. (Tadawul) Herfy: SAR94.11 as of 11 January 2016, Rating: Buy, FV: SAR127.00 per share, MCap: USD1,159 million, HERFY AB / 6002.SE
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