2 stories mentioning SASE:3003Updated 47d ago
Every FINWIRES story that references SASE:3003, newest first.
Sadif Investment Analytics on Wednesday lowered the price target for cement products manufacturer City Cement Co. (SASE:3003) to 8.93 Saudi riyals from 12.51 riyals, while maintaining a hold rating.
City Cement Co. (SASE:3003) expects the fuel price adjustment disclosed by Saudi Arabian Oil Co., d/b/a Saudi Aramco, in January to result in a 2.32% increase in its production costs.The cement products manufacturer said Tuesday that it has incorporated the estimated increase in its first-quarter results. It added that its participation in Saudi Arabia's Industrial Sector Competitiveness Program helped soften the price adjustment's financial impact.In January, the state-owned oil giant notified City Cement about the changes in prices of fuel products used in the latter's production activities.
