Tasnee 2Q16 first glance: Bottom-line turns positive, surprising our expectations, driven partially by non-operational items
Net income – SAR103.9mn, vs. losses of SAR108mn in 2Q15, losses of SAR95mn in 1Q16, and ahead of EFGe loss estimate of SAR23mn Gross profit – SAR845mn, +3% Y-o-Y, +28% Q-o-Q, +10% vs. EFGe Operating income – SAR364mn, +41% Y-o-Y
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