In a recent report, Al-Rajhi Capital has stated that Saudi Airline Catering's (SACC) Q4 revenue of SAR 480.4 million (+7.5% y-o-y) beat its estimate, while the company's net profit of SAR 127.2 million (+0.5% y-o-y) came broadly in line with its forecast. The company attributed the growth to higher number of meals served and increase in revenues from Golden Lounges. However, the sharp fall in operating margin is a concern. Al-Rajhi Capital reiterated its 'Neutral' rating, with a target price of SAR 149.6 per share.; All Rights Reserved - Mubasher Info
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