Saudi Company For Hardware (SACO) [4008.SE] posted KPIs for 4Q2015, with a net income of SAR37.9 million, growing c26% Y-o-Y (c105% Q-o-Q). Bottom-line growth was bolstered mainly by a revenue increase of 12% Y-o-Y, which the company attributed to: i) new store openings in 2015; and ii) growth across all divisions; and the positive impact (SAR4.57 million) of the final settlement of the insurance claim related to the Riyadh branch. Excluding the claim, earnings rose a tamer 11% Y-o-Y to SAR33.3 million in 4Q2015. Gross profit for the quarter came in at SAR74.4 million, up 14% Y-o-Y; accordingly, gross margin widened c30bps to 21.1%. Meanwhile, net operating profit grew 7% Y-o-Y, reaching SAR36.4 million, while EBIT margin contracted 50bps to 10.3% as SG&A costs increased 22%, ahead of revenue. (Tadawul)