SAFCO 2Q16 first glance: 2Q16 Earnings marginally improves Q-o-Q, beating EFGe; but still weak; reiterate Sell
Net Income – SAR299mn, -50% Y-o-Y, +5% Q-o-Q, +11% vs EFGe Gross Profit – SAR265mn, -51% Y-o-Y, -2% Q-o-Q, +11% vs EFGe Operating Income – SAR248mn, -53% Y-o-Y, -3% Q-o-Q, +16% vs EFGe Saudi Arabian Fertilisers Company (SAFCO)
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