SPIMACO anticipates SAR6 million cost hike on tariff and subsidy changes; limited impact
Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) [2070.SE] expects an annual increase in the company’s expenses of SAR6 million, 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) SPIMACO: SAR30.34 as of 07 January 2016, Rating: Buy, FV: SAR45.00 per share, MCap: USD971 million, SPIMACO AB / 2070.SE
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